The act of putting a new product on the market in order to make profits is called
A. invention.
B. innovation.
C. investment.
D. development.
Answer: B
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In the short-run, real GDP can be greater than or less than potential GDP because in the short run the money wage rate is fixed
Indicate whether the statement is true or false
During the post war period,
a. an economic slowdown occurred immediately following the Armistice. b. a vigorous boom began in 1919. c. the Federal Reserve followed a policy of keeping its discount rate below market rates. d. All of the above are correct. e. Only b and c are correct.
What were the negative results predicted by Malthus' and how can we avoid such results?
In 2008, 1.00 Swiss franc cost 0.56 British pounds and in 2010, it cost 0.51 British pounds. Therefore, 1 British pound was worth _____ Swiss francs in 2008 and _____ Swiss francs in 2010
a. 1.79; 1.96 b. 1.78; 1.98 c. 1.71; 2.00 d. 1.73; 1.97