When paired with investment, research and development is likely to ______.
a. improve productivity and economic growth
b. lower the standard of living
c. curtail labor productivity and growth
d. reduce the importance of physical capital
a. improve productivity and economic growth
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When people make deposits of currency into a bank, the quantity of M1
A) changes only if the deposit is an open market operation. B) immediately decreases by the amount of the deposit. C) immediately increases by the amount of the deposit. D) does not immediately change. E) immediately changes but whether it increases or decreases depends on whether the bank had excess reserves or did not have excess reserves.
Suppose the real wage of a worker remains unchanged between Year 1 and Year 2 but the nominal wage decreases from $20 in Year 1 to $18 in Year 2 . This implies that the price level has: a. increased by 20 percent. b. increased by 25 percent. c. remained unchanged
d. fallen by 10 percent. e. fallen by 20 percent.
Computer programs or software are an example of:
a. land. b. labor. c. capital. d. none of these.
An increase in consumers' incomes will have what effect on the equilibrium in the restaurant meals market?
a. Price will increase, and quantity will increase. b. Price will decrease, and quantity will increase. c. Price will increase, and quantity will decrease. d. Price will decrease, and quantity will decrease. e. Price will increase, and quantity will stay the same.