All of the following are factors that limit a poor nation's economic growth except
A. lack of entrepreneurial ability.
B. lack of human capital.
C. insufficient capital formation.
D. insufficient controls on free trade.
Answer: D
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Which of the following is TRUE of the Federal Reserve System?
I. It was established in the early 1980s. II. It serves as the central bank of the United States. A) I only B) II only C) Both I and II D) Neither I nor II
Frank Banks manufactures and sells piggy banks in a perfectly competitive market. The firm recently purchased new equipment with an expected rate of return of 7 percent
If the market rate of interest is 8 percent, was the firm's decision to purchase the equipment a wise one? Explain.
Non-liquid assets could perform which of the following functions?
A. Trade without bartering B. Medium of exchange C. Cash for transactions D. Store of value
Which of the following would be expected if the tariff on foreign-produced shoes were decreased?
A. The domestic price of shoes would fall. B. The supply of foreign shoes to the domestic market would decline, causing shoe prices to rise. C. The number of unemployed workers in the domestic shoe industry would decline. D. The demand for foreign-produced shoes would decrease, causing the price of shoes to increase in other nations.