Paint and paintbrushes are complements. If the price of paint increases, then
A) the demand for paintbrushes will increase.
B) the demand for paintbrushes will decrease.
C) the demand for paint will increase.
D) the demand for paint will decrease.
B
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An example of how economic growth might not lead to economic development is:
A. the rate of literacy increased among all groups when a nation’s economy grew. B. people had greater social mobility due to the growth experienced in the nation. C. the average income in a nation increased with greater GDP growth. D. when a nation’s economy grew, the rate of malnutrition among children was relatively constant.
The natural rate of unemployment is
a. the rate of unemployment caused by frictional plus structural unemployment b. the actual rate of unemployment less structural unemployment c. structural, frictional, and cyclical unemployment d. full employment less structural unemployment e. the civilian population that is out of work and actively seeking a job
Which of the following is a tool of monetary policy?
A. Buying and selling government bonds B. Making loans to banks C. Setting reserve requirements D. All of the above are tools of monetary policy.
Legal entitlement to scientific discoveries, inventions, innovations and intellectual property
A) results in an equal distribution of income and profits. B) protects production on the basis of tradition, social customs and habits. C) encourages technological advancements. D) reduces the incentive to invest in research and development.