The new growth theory
A) corrects for poor estimates of population growth.
B) applies to only very poor, less-developed nations.
C) eliminates technological advances from the growth picture.
D) asserts that economic growth can be rapid but can only persist for a limited period of time.
E) explains the source of technological advances.
E
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The risk that interest payments will not be made, or that the face value of a bond is not repaid when a bond matures is
A) interest rate risk. B) inflation risk. C) liquidity risk. D) default risk.
If a monopoly finds that at the present level of production, marginal revenue exceeds marginal cost, the firm should
a. shut down b. increase production c. maintain the production level because MR > MC signifies economic profit d. decrease production so that MC will equal MR e. raise price
Who guarantees that prices in the foreign exchange market are identical all over the world?
a. Governments. b. Supranational organizations. c. Central banks. d. Tourists. e. Arbitrageurs.
Which of the following is an example of an investment in physical capital?
A. A firm purchases new equipment for a manufacturing process. B. A firm pays for workers to take college classes. C. A firm trains workers to operate new machinery. D. A chemical firm employs chemists to develop new chemicals.