The most important determinant of a nation's rate of economic growth may be ____.
Fill in the blank(s) with the appropriate word(s).
technological change (or advance)
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Suppose that an Intel worker rearranges existing machines and labor and increases the quantity of chips Intel can produce. Using the productivity curve graphed, this innovation would be described as
A) a movement upward along the curve. B) a movement downward along the curve. C) a shift of the curve upward. D) a shift of the curve downward. E) no change to the productivity curve.
Which of the following pairs is most likely to represent substitute goods?
a. Hamburgers and hamburger rolls. b. Movies and popcorn. c. Beer and pretzels. d. Shoes and shoelaces. e. Pork and beef.
Many experts on the nursing shortage insist that, in addition to higher money wages, other ways will have to be found to make the nursing profession more attractive, including, for example, more respect from physicians and administrators, more flexible schedules, and more secure parking lots. These facts illustrate the concept of
A. exploitation. B. pecuniary principles. C. economic rent. D. nonmonetary attractiveness.
Proponents of zero inflation argue that reducing inflation has
a. permanent costs and temporary benefits. b. temporary costs and permanent benefits. c. permanent costs and benefits. d. temporary costs and benefits.