Capital deepening is the only mechanism by which economies can grow
Indicate whether the statement is true or false
FALSE
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Which of the following factors is likely to lead to an increase in the quantity demanded of pens?
A) A fall in the price of paper B) A fall in the incomes of all consumers C) A rise in the incomes of all consumers D) A fall in the price of pens
An example of business fixed investment spending is
A) a purchase of a home by a household. B) a purchase of a bond by General Electric Corporation. C) a purchase of a computer by an accounting firm. D) $200 million of unsold cars at a car dealership.
According to Nobel Prize winner Douglass North, the most important factor in limiting economic growth in developing countries today is ________
A) the relatively low level of saving B) the relatively high rate of inflation C) the inability to develop effective low-cost contract enforcement D) the inadequate state of the health care system
The only mineral that was available in any significant quantity in colonial America was:
a. Gold. b. Silver. c. Iron. d. Coal.