Activities that encourage faster growth are
A) high levels of consumption and low levels of savings.
B) high levels of saving and investment in human capital.
C) imposing trade barriers to limit international trade and thereby protect national industries.
D) limiting property rights so that everyone can use any invention.
E) taxes on saving that serve to encourage more spending and less saving.
B
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
An industry is made up of 8 firms with the following percent market shares: 29, 20, 11, 10, 9, 8, 7, 6. What is the Herfindahl-Hirschman index in this industry?
A) 70 B) 100 C) 1462 D) 1692
What are some of the main ways in which the economies of developing countries differ from one another?
What will be an ideal response?
Harry is a computer company executive, earning $200 per hour managing the company and promoting its products. His daughter Quinn is a high school student, earning $6 per hour helping her grandmother on the farm. Harry's computer is broken. He can repair it himself in one hour. Quinn can repair it in 10 hours. Harry's opportunity cost of repairing the computer is lower than Quinn's
a. True b. False Indicate whether the statement is true or false