Investment includes
A) the New York City Library's purchase of new books.
B) Wal-Mart's purchase of health insurance for its workers.
C) student purchases of laptops.
D) GM's purchase of robotic machinery.
E) wages paid to military personnel.
D
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Imagine two countries, Zorba and Anduluvia. Zorba is producing everything at a lower resource cost than Anduluvia. If the two countries trade what is the reason?
What will be an ideal response?
________ policies seek to promote rapid industrialization by erecting high barriers to foreign goods to encourage local production,
A) Comparative advantage B) Primary-export-led development C) Import-substitution development D) Outward-looking development
A firm facing a horizontal demand curve: a. cannot affect the price it receives for its output
b. is unlikely to price its goods below market price. c. faces a perfectly elastic demand curve for its product. d. is characterized by all of the above.
By the late 1990s, the growth rate of total factor productivity in the United States _____
a. averaged about 1% b. averaged between 3 and 4% c. averaged between 6 and 8% d. averaged between 10 and 15% e. averaged above 20%