A example of a topic studied in the field of new growth is how incentives for ________ interact with the accumulation of physical capital
A) international trade B) new product development
C) research and development D) all of the above
D
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Refer to Figure 2-2. The linear production possibilities frontier in the figure indicates that
A) it is progressively more expensive to produce meat. B) Mendonca has a comparative disadvantage in the production of meat. C) the tradeoff between meat and vegetables is constant. D) Mendonca has a comparative advantage in the production of vegetables.
One of the following is not a characteristic of perfect competition. Which is it?
A. Firms advertise to increase their market share. B. Profits are low in the long run. C. Consumers pay little attention to brand names. D. Firms pay no attention to their competitors’ output levels.
Savings deposits are included in
A. M1 but not M2. B. M2 but not M1. C. M1 and M2. D. None of the above is correct.
When demand is price-inelastic, ceteris paribus, an increase in
A. Price leads to greater total revenue. B. Total revenue indicates a reduction in price. C. Price leads to lower total revenue. D. Total revenue means quantity rises.