The idea that additional spending on research and development will produce additional knowledge that may further increase the productivity of capital is an argument used by some economists to claim that knowledge is subject to ________ returns
A) decreasing
B) increasing
C) constant
D) negative
B
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Which of the following functions of money would prove rather useless if inflation were extremely high?
A) medium of exchange B) store of value C) standard of value D) all of the above
"Because of unseasonable cold weather, much of the peach crop has been destroyed." This statement indicates that the:
A. price of peaches will fall. B. quantity of peaches that will be available at any given price has decreased. C. demand for peaches will shift to the left. D. quantity of peaches that will be available at any given price have increased.
Which of the following gives the correct relationship between nominal and real interest rates?
A. Nominal interest rate + real interest rate = expected inflation rate B. Real interest rate = nominal interest rate + expected inflation rate C. Nominal interest rate = real interest rate - expected inflation D. Nominal interest rate = real interest rate + expected inflation rate
When an investor buys a corporate bond, the ________ the bond is a loan to the corporation
A) interest on B) face value of C) coupon payment on D) dividend payment on