The difference between basic and applied research is that:
a. basic research does not promote resource productivity while applied research does.
b. applied research does not promote resource productivity while basic research does.
c. basic research has less immediate payoff to society than applied research typically does.
d. basic research occurs in science, while applied research occurs in
industry.
e. only the government promotes basic research.
c
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If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts leftward, the equilibrium
A) price of bottled water definitely increases. B) price of bottled water definitely decreases. C) quantity of bottled water definitely increases. D) quantity of bottled water definitely decreases.
Assume that the central bank increases the reserve requirement. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). b. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). c. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). d. There is not enough information to determine what happens to these two macroeconomic variables. e. The GDP Price Index and net nonreserve-related international borrowing/lending remain the same.
When the price of hamburger went from $3 to $4 a pound, the quantity demanded of buns changed from 30 to 25 packages a day. The cross-price elasticity of demand for buns (using the initial value formula) is:
A. 1.4. B. 0.5. C. -0.5. D. -1.4.
Refer to the information provided in Table 8.4 below to answer the question(s) that follow. Table 8.4ProduceUsing TechniquesUnits of Variable KInputs L1 unit of outputA4 4?B2 6????2 units of outputA 7 6?B410????3 units of outputA 8 6?B 6 11Refer to Table 8.4. Assume that the relevant time period is the short run. Assuming the price of labor (L) is $5 per unit and the price of capital (K) is $10 per unit, the average total cost of producing two units of output is
A. $10. B. $20. C. $45. D. $50.