Technological innovations are not necessarily major scientific breakthroughs
Indicate whether the statement is true or false
TRUE
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If an economy invests more than it loses through depreciation ________
A) the saving rate will fall B) the saving rate will rise C) the quantity of labor will fall D) the capital stock will expand
What is marginal resource cost?
a. the amount that an extra input adds to the firm’s total costs b. the change in quantity of output resulting from a one-unit change in input c. the average variable cost of producing one more unit of output d. the additional income a firm obtains from one more unit of input
Which statement is true?
A. M1 is larger than M3. B. M2 is about five times the size of M1. C. M3 is three times the size of M2. D. None of the statements are true.
Other things equal, Canadian imports of U.S. goods:
A. create a supply of Canadian dollars in the foreign exchange market. B. create a supply of U.S. dollars in the foreign exchange market. C. reduce the demand for U.S. dollars. D. have no effect on the U.S. dollar price of Canadian dollars.