All of the following are examples of institutions that promote real economic growth EXCEPT
A) complex rules associated with business licensing used to promote careful business growth.
B) patent laws that protect innovation.
C) an efficient judicial system used to enforce contracts.
D) strong law enforcement used to protect business interests.
A
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Which of the following is likely to happen when the interest rate falls?
A) The volume of economic activity will reduce. B) The labor demand curve will shift to the left. C) Equilibrium wage rate will fall. D) The labor demand curve will shift to the right.
How can the market demand for a product be inelastic but the demand for a particular firm is elastic?
A) There is no advertising. B) There is a sufficiently large number of sellers. C) There is only one or two sellers. D) Buyers do not have complete information.
Zero pollution represents an efficiency standard
a. True b. False Indicate whether the statement is true or false
Suppose that the rate of interest increases. What will happen to the discounted present value of an investment?
a. It will increase. b. It will decrease. c. It will remain unchanged. d. It depends on the magnitude of the change.