According to the new growth theory, which of the following promote economic growth?
i. discoveries that bring profit
ii. choices that expand human capital
iii. random events that create technology change
A) i and ii B) i only C) i, ii and iii D) i and iii E) ii only
A
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The fast-food industry in the U.S. consists of many firms, but despite that it can still be viewed as an oligopoly because the top few firms control a significant share of the market
Indicate whether the statement is true or false
When the economy is producing at a quantity greater than its long-run aggregate supply:
A. it is pushing some of its resources to operate beyond capacity. B. the economy is experiencing greater economic growth. C. it causes a bubble to form in one of its major sectors. D. we are experiencing a recession.
Digital cameras and memory cards are:
A. inferior goods. B. complementary goods. C. substitute goods. D. independent goods.
When companies first sell shares of stock to the public, this is called
A. primary lending. B. an initial public offering. C. financial intermediation. D. venture capital funding.