Which of the following measures does not help promote technological progress?
(A) Reducing the scale of the market for a new product.
(B) Training programs for workers.
(C) Increased wages for researchers.
(D) Issuing a patent to a company that invents a new product.
Ans: (A) Reducing the scale of the market for a new product.
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Specialization allows a society to produce ________ goods.
A. more B. the same amount of C. fewer D. new
In his book The Other Path, de Soto suggests that countries will grow more quickly if governments limit entrepreneurship.
Answer the following statement true (T) or false (F)
In the ultimatum game, when the allocator and the recipient care about fairness, how is the distribution of $20.00 affected?
a. Allocators receive everything, and recipients receive nothing. b. Recipients usually reject offers of less than a 10 percent share. c. Allocators usually offer recipients a very small share. d. Allocators and recipients always end up sharing the $20.00 equally.
John Maynard Keynes developed the ideas underlying the aggregate expenditures model:
A. In the 1960s B. In the 1980s C. As a reinforcement of Say's Law D. As a critique of classical economics