Which of the following statements is not correct?
a. The catch-up effect is based on the assumption of diminishing returns to capital.
b. Investment in poor countries by citizens of rich countries is one way poor countries can learn new technologies.
c. Malthus argued that charity and government aid was an effective way to reduce poverty.
d. Peace and justice are keys to growth.
c
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Between the Civil War and World War I, the U.S. monetary system:
a. experienced a persistent deflation. b. suffered several financial crises in which banks closed and firms went bankrupt. c. adopted a de facto gold standard. d. adopted a central bank. e. All of the above.
Which type of statement is most likely to include the word "should"?
A. Positive statement B. Normative statement C. Fair statement D. Factual statement
An increase in the cost of chicken feed will reduce the supply of eggs
a. True b. False Indicate whether the statement is true or false
When PAE < Y the economic response for inventories should be:
A. inventories will increase. B. inventories will decrease. C. there will be no change in inventories. D. inventories should decrease initially and then sharply increase.