Which of the following is true?
a. Nations achieve high rates of economic growth primarily because of their natural resource endowments.
b. Human and physical capital investments are largely irrelevant to economic growth.
c. Poor nations grow slowly because they do not have access to modern technology.
d. A favorable political environment attracts more investment in human and physical capital.
d
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Many financial analysts use GDP as a measure of the economy's performance. However, GDP has several shortcomings in terms of measuring economic well-being
State at least three such shortcomings and explain how each affects the validity of GDP as a measure of economic well-being.
The transactions demand for money will increase when
A) the rate of interest increases. B) the price level falls. C) nominal Gross Domestic Product (GDP) increases. D) nominal Gross Domestic Product (GDP) decreases.
Which of the following could trigger supply-side inflation?
a. a decrease in the wage rate for all workers b. an increase in raw materials' prices c. an increase in productivity of capital d. an increase in the labor force
A monopolist maximizes profit by producing an output level where marginal cost equals price
a. True b. False Indicate whether the statement is true or false