Without controlling for differences in natural resources and technological knowledge, diminishing returns can explain the entire difference in economic growth rates for China and the United States
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
To maximize their profits and defend those profits from competitors, monopolistically competitive firms must
A) achieve economies of scale. B) differentiate their products. C) lobby government to erect barriers to entry in their industries. D) limit foreign competition in their markets by encouraging the government to impose tariffs and other trade restrictions.
The potential for a financial breakdown at large institutions to spread throughout the financial system is called
A) a systemic risk. B) a too-large-to-fail problem. C) an averse selection problem. D) a moral hazard.
The equilibrium price is best defined as the price at which: a. demand is smaller than supply
b. suppliers want to supply more goods. c. demanders want to buy more goods. d. quantity demanded is equal to quantity supplied. e. the quantity demanded increases.
We observe a transaction only when the investment value of the buyer _____________ the investment value of the seller.
Fill in the blank(s) with the appropriate word(s).