In a developing economy, scarcity of capital may have more to do with a lack of incentive for citizens to save and invest productively than with any absolute scarcity of income available for capital accumulation.
Answer the following statement true (T) or false (F)
True
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Business cycles ________, and recessions ________
A) are of equal length; are of equal severity B) are of equal length; differ in severity C) vary in length; are of equal severity D) vary in length; differ in severity
How does an increase in the savings rate affect the multiplier in an economy, if at all?
a) The multiplier would turn from positive to negative. b) The multiplier would stay the same. c) The multiplier would increase. d) The multiplier would decrease.
Refer to the information provided in Figure 2.3 below to answer the question(s) that follow.
Figure 2.3Refer to Figure 2.3. The law of ________ opportunity costs is best depicted by the production possibilities frontier in Panel A.
A. increasing B. constant C. decreasing D. zero
Ration coupons are tickets or coupons that give someone a right to purchase a certain amount of a product each time period such as a month.
Answer the following statement true (T) or false (F)