In the classical model, the level of business investment was a function of
a. only the expected profitability of investment projects.
b. only the real interest rate.
c. both the expected profitability of investment projects and the real interest rate.
d. only the nominal interest rate.
d. None of the above
C
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Common causes for a backflow in migration include the following, except:
A. Expected gains in the new country are exceeded by actual gains B. Living costs in the new country are higher than expected C. Costs of being away from family and friends are greater than expected D. Anticipated jobs and promotions are not found in the new country
The four factors of production (or types of resources) are
A. labor, capital, technology, and entrepreneurial ability. B. land, labor, capital, and entrepreneurial ability. C. labor, capital, entrepreneurial ability, and money. D. land, labor, capital, and money.
Refer to Figure 2-7. Assume a technological advancement greatly reduces the cost to produce self-driving vehicles. This is best represented by the
A) movement from K to L in Graph C. B) movement from G to H in Graph B. C) movement from H to J in Graph B. D) movement from E to F in Graph A.
A change in the price of a good causes: a. a change in the quantity demanded and therefore results in a movement along the given demand curve for the good. b. a change in demand and therefore results in a movement along the given demand curve for the good
c. a change in the quantity demanded and therefore results in a shift in the demand curve for the good. d. a change in demand and therefore results in a shift in the given demand curve for the good.