To secure a charter, the deciding bodies required which of the following from the business enterprises?
(a) A statement of business purpose and location
(b) A business plan
(c) A description of capital and labor requirements and expectations
(d) All of the above
(d)
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If net exports are equal to net foreign investment
A) the current account balance is equal to the negative of the financial account balance. B) the balance of payments is zero. C) net capital inflows are equal to imports minus exports. D) All of the above are true when net exports are equal to net foreign investment.
When measuring the benefits from investing in human capital
A) the only benefits come from the increase in salary because of going to school. B) in addition to the monetary benefits, the benefit from expanding horizons should be included. C) we must include the costs of tuition and books but not the money made from part-time jobs. D) we must include the foregone earnings in the benefit calculation.
Which of the following is a reason why the growth rates of high-income countries can be lower than that of low-income countries?
a. In high-income countries, the invention of new technology is difficult, expensive, and time consuming. b. In high-income countries, the invention of new technology is subject to diminishing marginal returns. c. In high-income countries, the marginal cost of production increases as output increases. d. In high-income countries, the average cost of production increases as output increases.
Time lags between the production decision and the resultant harvest contribute to
A. Price stability. B. Price instability. C. Loss. D. Profit.