Improvements in literacy stimulate economic growth by:
a. reducing the barriers to the flow of information
b. improving the flow of resources to more productive uses.
c. imparting skills, which raises labor productivity.
d. doing all of the above.
d
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An increase in the real exchange rate
A) makes imports more expensive. B) makes imports less expensive. C) does not affect import values. D) always makes the number of imports rise. E) makes domestic consumers spend more on only foreign imports.
Which of the following is not included in a nation's balance of payments?
a. International interest and dividend earnings. b. International gifts. c. International loans. d. All of the above are included in the balance of payments.
A U.S. grocery chain buys bananas from Honduras and pays for them with U.S. dollars
a. The purchase of the bananas increases U.S. net exports and the payment with dollars increases U.S. net capital outflow. b. The purchase of bananas increases U.S. net exports and the payment with dollars decreases U.S. net capital outflow. c. The purchase of bananas decreases U.S. net exports and the payment with dollars increases U.S. net capital outflow. d. The purchase of bananas decreases U.S. net exports and the payment with dollars decreases U.S. net capital outflow.
The observation that people tend to value something more highly when they own it than when they don't is called the
A) wealth effect. B) endowment effect. C) path-dependent effect. D) endorsement effect.