Which of the following statements is true?
A) Countries with lower investment in research and development (R&D) are likely to have higher standards of living.
B) The Industrial Revolution started in the United States and spread to other parts of the world.
C) The Industrial Revolution started in South America and spread to other parts of the world.
D) Countries with a higher investment in research and development (R&D) are likely to have higher standards of living.
D
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All industrialized countries have become “service economies” in recent decades. Explain the reasons behind this shift.
What will be an ideal response?
The law of demand implies, holding everything else constant, that as the price of bagels increases
A) the demand for bagels will decrease. B) the demand for bagels will increase. C) the quantity of bagels demanded will increase. D) the quantity of bagels demanded will decrease.
Gratin and Tambec sell retail goods and are the two largest sellers in their oligopolistic market. Which action indicates that the two firms are colluding?
a. Gratin tells its customers that it will match Tambec’s advertised prices. b. Gratin secretly coordinates its pricing strategy with Tambec. c. Tambec offers its customers better credit terms than those offered by Gratin. d. Tambec secretly tries to predict the pricing strategy of Gratin.
(Exhibit: IS-LM Monetary Policy) Based on the graph, starting from equilibrium at interest rate r1 and income Y1, an increase in the money supply would generate the new equilibrium combination of interest rate and income:
What will be an ideal response?