Proponents of the new growth theory argue that which of the following is a determinant of economic growth?
A) An effective system of patent protection
B) The quality and size of the nation's educational system
C) The proportion of income that goes into research and development
D) All of the above
D
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Contractionary monetary policy should initially change gross investment by ________.
A. enough to reach full employment B. more than necessary to reach full employment C. an amount determined by the money multiplier D. less than necessary to reach full employment
As a result of the recent financial crisis, some analysts believed that the MPC in the U.S. declined. If this is true, the value of the multiplier is now
a. smaller. b. larger. c. the same. d. magnified to a larger amount.
Which of the following statements is correct?
a. If marginal cost is rising, then average total cost is rising. b. If marginal cost is rising, then average variable cost is rising. c. If average variable cost is rising, then marginal cost is minimized. d. If average total cost is rising, then marginal cost is greater than average total cost.
If the Japanese yen depreciates against the U.S. dollar
A) the price of Japanese imports to the United States decreases. B) the price of United States exports to Japan decreases. C) the price of Japanese imports from the United States will decrease. D) there is no change in the price of Japanese exports to the United States.