What factor probably contributes most to economic growth?
A) Money
B) Political influence
C) Foreign aid and investment
D) The exploitation of poor countries by rich countries
E) Productive knowledge
E
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ABC Co. produces only gadgets, and XYZ Co. produces both gadgets and widgets. If ABC Co. produces gadgets at the same average total cost as XYZ Co., economies of:
A. scope are not present in XYZ. B. scope are present in ABC. C. scale are not present in XYZ. D. scale are present in ABC.
If a major technological breakthrough occurs, then the:
A. investment demand curve will shift downward. B. investment demand curve will shift upward. C. consumption function will shift downward. D. consumption function will shift upward.
In every economic system, choices must be made because resources
A. are unlimited, but human desires and wants are limited. B. are unlimited, and so are human desires and wants. C. are limited, but human desires and wants are unlimited. D. are limited, and so are human desires and wants.
According to Robert Fogel, economic growth ________ health, and health ________ economic growth
A) improves; worsens B) improves; improves C) worsens; improves D) worsens; worsens