According to the classification in the text, which of the following is not an industrially advanced country (IAC)?
a. Singapore. b. Hong Kong.
c. United Arab Emirates. d. Ireland.
c
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Which of the following does not determine the position and shape of a society’s production possibilities frontier?
A. Physical resources B. Price level C. Skills and technology D. Past investment in factories and in research
A movement along the consumption function is the result of a change in
A) consumer wealth. B) income. C) autonomous consumption. D) expected wealth.
Which of the following is a common resource?
a. Golden retrievers b. Jersey cows c. Domestic cats d. Panda bears
Real and nominal variables are highly intertwined, and changes in the money supply change real GDP. Most economists would agree that this statement accurately describes
a. both the short run and the long run. b. the short run, but not the long run. c. the long run, but not the short run. d. neither the long run nor the short run.