Imitation, rather than innovation, is a way for poorer countries to achieve growth.
Answer the following statement true (T) or false (F)
True
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The above table shows the total product schedule for the campus book store. If each employee is paid $6 per hour, what is the average variable cost of selling 83 books per hour (assuming labor costs are the only variable costs of production)?
A) $0.43 per book B) $0.07 per book C) $2.30 per book D) $6.00 per book
Under the gold standard, to increase the money supply in the country, the government must
A) increase the value of the country's currency on foreign exchange markets. B) simply print more currency. C) have enough gold to back up the increase in the money supply. D) buy foreign currencies with dollars to increase foreign currency reserves.
Refer to Figure 23-1. According to the figure above, at what point is aggregate expenditure greater than GDP?
A) J B) K C) L D) none of the above
The demand for products that provide benefit externalities is generally ________ the demand for products that do not
A) greater than B) less than C) the same as D) greater or less (depending on the market) than