The United States has done very poorly at the high end of the value-added chain.
Answer the following statement true (T) or false (F)
False
The United States has a comparative advantage in high value-added production, and this is evident with the iPad, where about 60 percent of the income from each sale goes to domestic advertising, research, and development.
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When marginal revenue is positive, total revenue ________ when output increases and demand is ________
A) decreases; elastic B) decreases; inelastic C) increases; elastic D) increases; inelastic E) does not change; unit elastic
The specialty of Lloyd's of London is
A) annuities. B) hedge funds. C) mutual funds. D) reinsurance.
Which of the following is a determinant of Investment spending?
A. Expected future income B. Real income C. Wealth D. Taxes
The economy moves up a stationary aggregate demand curve when the Fed:
A. increases its target inflation rate, reflected by a downward shift in the Fed's policy reaction function. B. increases real interest rates in response to inflation, but does not change its target inflation rate or the Fed's policy reaction function. C. decreases real interest rates in response to inflation, but does not change its target inflation rate or the Fed's policy reaction function. D. decreases its target inflation rate, reflected by an upward shift in the Fed's policy reaction function.