A phenomenon called Moore's law says:
A. physical capital will double every two years in countries with high rates of growth.
B. computing capacity has doubled every two years.
C. 70 divided by the growth rate equals how long it will take a country to double its productive capacity.
D. 70 divided by the growth rate equals how long it will take a country to double its income level.
Answer: B
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In the short run, average fixed cost is constant as output increases
Indicate whether the statement is true or false
A decrease in the foreign real interest rate would cause the domestic country's net exports to ________ and cause the domestic country's IS curve to ________
A) rise; shift up B) rise; shift down C) fall; shift up D) fall; shift down
Trade deflection is an act that
A) decreases the amount of international trade in the world. B) increases the amount of international trade in the world. C) has no impact on the amount of international trade in the world. D) is illegal among all countries in the world.
Samuelson and Solow believed that the Phillips curve offered policymakers a menu of possible economic outcomes
a. True b. False Indicate whether the statement is true or false