Proponents of the new growth theory argue that which of the following is a determinant of economic growth?
A. The proportion of income that goes into research and development
B. An effective system of patent protection
C. The quality and size of the nation's human capital
D. All of these
Answer: D
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A change in quantity supplied of a product is the result of a change in
A) the price of the product. B) consumer income. C) the cost of producing the product. D) the state of production technology.
Assume the United States is the "domestic" country and Switzerland is the "foreign" country. Which of the following might decrease the real exchange rate between the United States and Switzerland?
A) a depreciation of the franc B) an appreciation of the dollar C) a decrease in the price level in Switzerland D) a decrease in the price level in the United States
Which of the following does NOT shift the IS curve?
A) an increase in autonomous consumption B) an increase in government spending C) a decline in government spending D) a fall in the interest rate
Which of the following events will cause a downward movement along the value of marginal product of labor curve?
a. An increase in wage rate b. An increase in price of the product c. A decrease in wage rate d. A decrease in price of the product