According to Joseph Schumpeter, the success of capitalism relies on:
a. continuous, small improvements to existing products.
b. "gales of creative destruction."
c. careful government direction of the manufacturing sector.
d. a strong agricultural sector to support the manufacturing workforce.
b. "gales of creative destruction."
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Hector voluntarily left his job to search for a job in accounting, the field in which he has his bachelor's degree. Hector is considered
A) frictionally unemployed. B) not to be unemployed. C) structurally unemployed. D) cyclically unemployed.
World Bank funds are largely acquired through interest earned on the deposits of member nations
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown.
Marginal product is negative at point:
A. A. B. B. C. C. D. D.
The price of a new textbook increases from $75 to $90 while the price of used copies of the textbook increases from $50 to $65. Other things equal, we would expect to observe
A) the quantity demanded of the used textbook to increase while the quantity demanded of the new textbook to fall. B) the quantity demanded of both to fall. C) the demand for the new textbook to increase while the demand for the used textbook to decrease. D) the quantity demanded of the used textbook to decrease and the quantity demanded of the new textbook to increase.