A country that has demonstrated the ability to catch up to the technology leaders by investing in both physical and human capital is called
a. a dependent economy.
b. a converging economy.
c. an advancing economy.
d. a predatory economy.
b. a converging economy.
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Long-run equilibrium will occur at the price level at which
A) the aggregate demand and long-run aggregate supply curves intersect. B) the short-run aggregate supply and long-run aggregate supply curves intersect. C) the long-run aggregate demand and short-run aggregate supply curves intersect. D) the aggregate demand and short-run aggregate supply curves intersect.
Why does the holding of excess reserves by banks and the holding of currency by households and firms cause the real-world deposit multiplier to be less than the simple deposit multiplier?
What will be an ideal response?
A perfectly competitive firm's marginal revenue
A) may be either greater or less than price, depending on the quantity sold. B) is equal to price. C) is greater than price. D) is less than price because a firm must lower its price to sell more.
When smaller political groups wish to have influence in a government with pluralistic voting, they will:
A. drop from races, and consolidate with larger parties. B. stay in political races, in the hopes of swaying the vote away from the candidate the majority favors. C. drop from races, and campaign instead to sway the vote away from the candidate the majority favors. D. stay in political races, in the hopes of a miracle.