The ethnocentric view that most new products are developed and introduced in the US is a key weakness in the ______ theory.
Fill in the blank(s) with the appropriate word(s).
product life cycle
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Retirement savings accounts, such as IRAs, help increase economic growth because
A) they encourage international trade. B) government invests them. C) they keep the interest rates high. D) people have an incentive to work harder and longer hours to save for the future. E) savings finances investment.
Refer to the accompanying figure. The opportunity cost of producing one bushel of corn is:
A. 250 bushels of wheat. B. ½ of a bushel of wheat. C. 500 bushels of wheat. D. 2 bushels of wheat.
The job market for which group always seems to have higher unemployment than the labor force as a whole? Why?
What will be an ideal response?