Which of the following statements is NOT consistent with new growth theorists' beliefs?
A) Innovation can lead to lower productivity costs.
B) Inventions are much more important than innovation.
C) Technology must be understood in terms of what drives it.
D) Rewards lead to technological advances.
B
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The Coase Theorem is the proposition that if the number of involved parties is low, if property rights ________ and transactions costs are ________, then private transactions are efficient
A) are nonexistent; low B) exist; high C) are nonexistent; high D) exist; low
We would expect the euro to depreciate when there is a __________ shift in the euro demand curve or a __________ shift in the euro supply curve
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
If we consider the reality that each worker has different skills, then the production possibilities frontier would:
A. have a convex shape. B. have a concave shape. C. be a straight line. D. shift outward.
D. All of these statements are true.
A. an output gap. B. a recession. C. a boom. D. an inflationary gap. AACSB: Reflective Thinking