Technological advance is very tightly intertwined with:
A. Capital formation
B. Household consumption
C. Government spending
D. Population growth
A. Capital formation
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Suppose India and France have the same PPF, shown in the figure above. Based on their current production points, India's most likely future PPF is ________, and France's most likely future PPF is ________
A) PPF1; PPF2 B) PPF2; PPF2 C) PPF1; PPF1 D) PPF2; PPF1 E) PPF0; PPF0
The most important determinant of the price elasticity of demand for a good is
A) the share of the good in the consumer's budget. B) whether the good is a necessity or a luxury. C) the definition of the market for a good. D) the availability of substitutes for the good.
In the simple liquidity preference model, changes to the money supply will have a smaller effect on interest rates the:
A. flatter, more elastic is the money demand curve. B. flatter, less elastic is the money demand curve. C. steeper, more elastic is the money demand curve. D. steeper, less elastic is the money demand curve.
Using exchange rates, it is possible to price-compare in different nations. If an iPod costs $90 in the United States and €45 in France, in which nation would you get the better deal when the dollar-euro exchange rate is $2/€?
a. The iPod would be cheaper in France. b. The iPod would be cheaper in the United States. c. The iPod would cost the same in both countries. d. From the information provided, it is impossible to answer this question.