Technology is
A. computers and lasers.
B. society's pool of knowledge of how to produce goods and services.
C. not obtainable by engaging in activities that increase human capital.
D. a resource like land or physical capital.
Answer: B
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The federal funds rate is
A) the interest rate paid on reserves held with the Fed. B) the interest rate at which banks can borrow excess reserves from other banks. C) the interest rate on bonds issued by the federal government. D) none of the above.
Overt collusion is relatively rare because: a. they are illegal in some countries, including the United States. b. members find it difficult to agree on key decisions
c. members frequently have an incentive to cheat on the cartel. d. of all the above reasons.
Which of the following is not included as "net income" in the U.S. balance of payments?
a. Income paid by a U.S. company to foreign consultants. b. Profits earned by U.S. companies from foreign operations. c. Foreign dividends received by U.S. residents. d. Profits earned by U.S. companies from foreign operations and reinvested abroad. e. All the above are includedas net income in the U.S. balance of payments.
According to the traditional Keynesian approach, if the government raises taxes, then
A. real Gross Domestic Product (GDP) will rise but the price level will fall. B. real Gross Domestic Product (GDP) will remain constant but the price level will fall. C. both real Gross Domestic Product (GDP) and the price level will falle. D. real Gross Domestic Product (GDP) will fall and the price level will remain constant.