In the United States, research and development spending as a percentage of GDP is:
A. 1.5 to 2.0 percent, which is lower than that of most other industrial countries.
B. 2.5 to 3.0 percent, which is higher than that of most other industrial countries.
C. 4.5 to 5.0 percent, which is lower than that of most other industrial countries.
D. 5.5 to 6.0 percent, which is higher than that of most other industrial countries.
Answer: B
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In the above figure, if the price level is 150
A) total planned production exceeds total expenditures. B) total planned production is less than total expenditures. C) total expenditures exceed total planned expenditures. D) total planned production equals total expenditures.
If the price of monthly satellite TV service increases from $40 to $50, the percentage change is
A) 5 percent. B) 20 percent. C) 25 percent. D) 45 percent.
Which of the following is correct when a price is set below a market's equilibrium price?
a. quantity demanded exceeds quantity supplied at the set price b. quantity demanded is less than quantity supplied at the set price c. quantity demanded is equal to quantity supplied at the set price d. at the set price there is a surplus e. the market price is less than the ceiling price
Economists believe that most individuals act as if they are motivated by self-interest and: a. respond selfishly
b. respond in predictable ways to changing circumstances. c. it leads to inconsistent and unpredictable behavior. d. all of the above.