Which of the following are important for countries to promote with property rights and incentives if economic growth is to occur? i. specialization ii. saving and investment iii. increases in human capital iv. discovery of new technology
A) i, ii, iii and iv.
B) ii and iii.
C) iii and iv.
D) ii and iv.
E) i, ii and iv only.
A
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Increasing worker productivity by creating economic incentives is an example of
a. laissez faire. b. supply-side economics. c. pump priming. d. Say’s Law.
Each of the following would be an example of technological change, EXCEPT
A. increases in output due to increases in capital. B. improvements in the qualities of resources. C. improved knowledge about how to combine resources. D. the introduction of totally new production processes.
In 1995 in the United States, consumption expenditure was $5,152 billion, investment was $1,164 billion, government purchases of goods and services were $1,407 billion, and total exports were $855 billion. GDP equaled
What will be an ideal response?
Dynamic pricing used by companies such as Uber:
A. allows market prices to adjust in real time to changes in supply and demand. B. creates market prices that are consistently lower than those preset by firms or by law. C. has been declared illegal because it harms consumers. D. often results in shortages of desired products.