Which of the following models best represents the relationship of income to output?
a. a pyramid
b. a circle
c. a spectrum
d. a web
b. a circle
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In the Harrod-Domar model, if the savings rate is 20% and the incremental capital output ratio is five, abstracting from depreciation, what is the implied growth rate?
What will be an ideal response?
Interest rate increases lead to currency appreciation and increases in net exports
a. True b. False Indicate whether the statement is true or false
In order for the standard of living within a country to be enhanced over time, which of the following is essential?
a. The role of the country's government in the economy must become larger. b. The population of the country must increase. c. More domestic natural resources must be discovered and used. d. The level of productivity must increase.
What is defined as an entity which makes product, good or services available to buyer or consumer in exchange of monetary consideration?
A. Seller B. Manufacturer C. Producer D. Buyer or consumer