Societies in which _____ produce more entrepreneurs
a. the ratio of immigrants to the local population is high
b. culture supports individual achievements
c. individuals are self-interested
d. immigrants are allowed to hold government positions
e. immigrants are more intelligent than the local population
b
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An increase in the interest rate will cause
A) planned investment spending to increase. B) planned investment spending to decrease. C) the investment function to shift out. D) the investment function to shift in.
Foreign exchange market intervention is most effective when:
a. each country's political leaders agree to cooperate fully with the process. b. leading economists in each country concur that intervention is needed. c. permanent differences between the free market exchange rate and the fixed exchange rate are expected. d. temporary differences between the free market exchange rate and the fixed exchange rate are expected. e. all the countries restrict the international movement of goods and services.
According to the quantity theory of money, if the quantity of goods and services doubles within the economy while velocity is constant and the money supply is cut in half, then the price level will be
a. unaffected b. four times higher c. times higher d. one-half its previous level e. one-fourth its previous level
Which of the following is more likely be the price elasticity of demand for anti-venom?
a. highly inelastic b. unit elastic c. elastic d. perfectly elastic