Technological progress can be another mechanism which affects economic growth
Indicate whether the statement is true or false
TRUE
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A country produces only cans of soup and ink pens. If the country produces on its bowed outward PPF and increases the production of cans of soup, the opportunity cost of additional
A) cans of soup is decreasing. B) ink pens is increasing. C) cans of soup is increasing. D) cans of soup remains unchanged. E) More information is needed to determine what happens to the opportunity cost.
Depository institutions do all the following EXCEPT
A) minimize the cost of obtaining funds. B) create liquidity. C) pool risks. D) create required reserve ratios.
Suppose that the inflation rate has been 3 percent per year for several years, and the unemployment rate has been stable at 5 percent. Unanticipated changes in government policy cause the inflation rate to increase to 6 percent
In the short run, we would expect the unemployment rate to A) increase, but the exact amount cannot be known for sure. B) decrease. C) increase to 10 percent. D) remain constant.
It may be demonstrated that any protectionist policy, which effectively shifts real resources to import competing industries or sectors will harm export industries or sectors. This may, for example, happen by the strengthening U.S
dollar in the foreign exchange market. Would you propose therefore that export industries lobby against protectionism in International Trade Commission proceedings? What of consumer advocates? Discuss the pros and the problems of such a suggestion.