New growth theory economists believe that:
I. Economic growth can continue as long as we keep finding new ideas.
II. The marginal product of capital diminishes very rapidly, so we must rely upon technological advances to create economic growth.
A) I only
B) II only
C) both I and II
D) neither I nor II
A
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The demand for a good increases when the price of a substitute ________ and also increases when the price of a complement ________
A) rises; rises B) rises; falls C) falls; rises D) falls; falls
________ usually increase(s) when the U.S. economy is in a recession and decrease(s) when the U.S. economy is expanding
A) Net Exports B) Consumer spending C) Unplanned investment D) Planned investment
In 2014, global revenue for IBM was $2 billion lower when measured in dollars than when measured in local currencies. The reason for this discrepancy is the value of the
A) euro decreased relative to the British pound. B) U.S. dollar decreased relative to the Japanese yen. C) British pound increased relative to the U.S. dollar. D) U.S. dollar increased relative to most other currencies.
A mostly filled movie theatre is an impure public good
a. True b. False