Economic theory is necessary and extremely important because of its relationship to economic policy.
Answer the following statement true (T) or false (F)
True
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New growth theory asserts that ________ will lead us to greater productivity and economic growth
A) nothing B) new machinery C) leisure time D) unlimited wants E) government regulation
When a government has a budget deficit, it must issue (sell) government bonds to finance the deficit
Does it matter for the rate of inflation if the government sells the government bonds to the public or sells the government bonds to the central bank? Explain why it does or does not matter.
The optimal patent length is equal to 20 years
Indicate whether the statement is true or false
Nash equilibrium is:
a. where one player maximizes his payoff and the other doesn't b. where each player maximizes the expected payoff c. similar to a dominant strategy d. difficult to determine