Which of the following is a demand factor in economic growth?
A. More human and natural resources
B. Technological progress and innovation
C. An increase in the economy's stock of capital goods
D. An increase in total spending in the economy
D. An increase in total spending in the economy
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Use the above table. Assuming constant opportunity costs, the opportunity cost of producing a pound of beef in Argentina is
A) 2 gallons of wine. B) 3 gallons of wine. C) 0.5 gallons of wine. D) 0.33 gallons of wine.
The convergence theory suggests:
A. that poorer countries will grow faster than rich ones. B. all countries eventually will experience the same rate of growth. C. countries may have the same rate of growth but differing levels of income. D. All of these are true.
The labor demand curve is
A. determined completely by the firm's technology. B. composed of the peaks of isoprofit curves. C. derived completely by the price of the firm's good. D. upward sloping. E. the same as the marginal cost curve.
when a higher price level reduces the purchasing power of the public's accumulated savings balances
What will be an ideal response?