Suppose in a country, the working-age population doubles due to immigration. However, the country neglects investment in research and development and hence the country's level of technology is stagnant
Which of the following statements will be true of this economy?
A) The economy will experience steady economic growth.
B) The savings rate will remain stagnant over the years.
C) The economy's output will rise at an increasing rate over time.
D) The economy cannot achieve a sustained growth.
D
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The European Economic and Monetary Union
A) set up a single currency and sole bank for European economic monetary policy. B) eliminated all barriers to trade such as tax differentials between borders. C) produced a single government for handling European affairs. D) created the Common Agricultural Pact. E) eliminated all local currencies in Western Europe.
A government can maximize efficiency in monopoly markets by setting prices equal to the monopolist's average cost of production albeit at the cost of reduced long term innovation.
a. true b. false
The new European Central Bank is located in which country?
A) England B) Italy C) France D) Spain E) Germany
If production costs increase, the price level will rise.
Answer the following statement true (T) or false (F)