The compound growth rate formula is used to estimate how long it will take for a number to double for a given growth rate
a. True
b. False
Indicate whether the statement is true or false
False
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Within rich economies, there is strong evidence of convergence ________
A) for regions within a country B) with developing economies C) leading to military conflict D) of capital stocks, rather than output
Which of the following is an alternative to patents that still encourages research?
A) the government funding research by firms B) offering a prize for discovery C) government grants to universities D) All of the above.
An externality can best be defined as
A) a party not directly involved in a transaction. B) a consequence of a transaction that spills over to affect third parties. C) a right of an owner to use and exchange property. D) a cost associated with the production of one more unit of output.
As the marginal propensity to consume (MPC) decreases, the spending multiplier:
a. increases. b. decreases. c. remains constant. d. becomes indefinable.