Economic development around the globe will be affected by how society nurtures incentives to create new
a. ideas
b. inventions
c. only ideas and inventions
d. only ideas and artistic creations
e. ideas, inventions, and artistic creations
E
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Suppose the exchange rate for the U.S. dollar falls. This could be caused by
A) a decrease in U.S. import demand. B) an increase in the world demand for U.S. exports. C) an increase in the U.S. interest rate differential. D) a fall in the expected future exchange rate.
Which answer below CORRECTLY describes the relationship between the demand for labor curve and the value of marginal product curve?
A) The curves intersect to determine the equilibrium quantity of labor. B) The value of marginal product curve lies to the right and above the demand for labor curve. C) The curves are the same. D) The value of marginal product curve lies to the left of the demand for labor curve.
Perfect price discrimination
A) turns all the producer surplus into consumer surplus. B) turns all the consumer surplus into economic profit. C) creates a deadweight loss. D) cannot result in profit maximization.
In a market, the rationing function of prices results in
A) long queues or waiting lines. B) a price ceiling. C) equilibrium. D) a shortage or surplus.