Import-substitution development policies have been especially effective in promoting employment in newly industrializing sectors because these policies discourage the import of foreign capital goods
Indicate whether the statement is true or false
FALSE
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According to the paradox of thrift, the more people try to save, the more income falls, leaving them with no more, and possibly less, income
Indicate whether the statement is true or false
Mass production is possible only if there is also __________________________.
Fill in the blank(s) with the appropriate word(s).
Suppose a change in technology increases the marginal product of labor. The result is a(n):
a. downward movement along the demand for labor curve. b. rightward shift in the demand for labor curve. c. leftward shift in the demand for labor curve. d. upward movement along the demand for labor curve.
If a bank has $1 million in demand deposits, $350,000 in reserves, and faces a 30 percent reserve requirement, the amount of money that a bank could initially create by loaning out their excess reserves is: a. $50,000
b. $300,000. c. $350,000. d. $700,000.