Choose three advanced factors that Porter believes are MOST significant for competitive advantage
What will be an ideal response?
skilled labor
research facilities
technology know how's
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
The balance of trade is
A) the difference between exports and imports of goods and services. B) the difference between exports and imports of services. C) the summary record of a country's economic transactions with foreigners in a year. D) none of the above.
When there is an inflationary gap, (actual) Real GDP is __________ Natural Real GDP, and the (actual) unemployment rate is __________ the natural unemployment rate
A) greater than; less than B) greater than; greater than C) less than; greater than D) less than; less than E) less than; equal to
Those economists who believe that the economy is self-regulating argue that wages are flexible, so they think that the economy can remove itself from a recessionary gap without government intervention
Indicate whether the statement is true or false