If the Luddites had succeeded in ________ the introduction of labor-saving machinery, economic growth in Great Britain may have been ________.
A. blocking; more rapid
B. blocking; slower
C. promoting; slower
D. promoting; more rapid
Answer: B
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As a unit of account, money is used
A) to hold purchasing power over time. B) to define prices of all other goods. C) to pay off future debts. D) to exchange for goods and services.
Patents are a source of:
A) legal market power. B) natural market power. C) regulated market power. D) firm-biased market power.
How would you define exchange control?
A) The government allocates foreign exchange through decree rather than through the market. B) a country NOT pegging its exchange rate C) a country pegging its exchange rate D) a country buying up excess current account so that CA=0 E) a country restricting all foreign exchange
Name and briefly describe the three balance of payments accounts
What will be an ideal response?