Invention and innovation are not the same thing. ______ are useless until _______ transforms them into goods and services that people find valuable.
Fill in the blank(s) with the appropriate word(s).
inventions/innovation
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Which of the following equations is true in an open economy?
A) Net exports = -Financial account balance. B) National saving = net capital flows. C) Net exports = net foreign investment. D) Private saving = net foreign investment + domestic investment.
Identify the correct statement
a. Demand is the total quantity of a product that people are willing, even if unable, to purchase at a given price. b. Demand for a product is the same as the quantity demanded of a product. c. Demand represents the different quantities of a good or service that provides consumers the same amount of utility. d. Demand is the quantity of a product that people are willing and able to purchase at different prices. e. Demand is the quantity of a product that producers are willing to produce at a particular price.
Appropriate fiscal policy in the U.S. in 2009 would attempt to
a. increase taxes. b. decrease aggregate supply. c. increase aggregate demand. d. decrease aggregate demand.
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.