In developed industries, the interest rate tends to be lower than in newer industries. What could explain this?
A) greater demand for loans in the developed industry
B) greater supply for loans in the new industry
C) greater demand for loans in the new industry
D) lower supply for loans in the developed industry
C
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Refer to the scenario above. Which country is likely to have the highest rate of poverty?
A) Techland B) Ritzland C) Neoland D) Eduland
One disadvantage of gold as the basis for a currency is
A) gold is difficult to transport in large quantities. B) a new discovery of gold could quickly change the value of the currency. C) a gold standard can be costly to maintain if the currency comes under speculation. D) all of the above.
Income elasticity of demand describes how change in income affects the quantity demanded of a good
a. True b. False Indicate whether the statement is true or false
The costs of recruiting new employees, training the new employees, and suffering the initial low productivity of new employees when old employees leave are called
A. benchmark wages. B. efficiency wages. C. turnover costs. D. marginal costs of long-term training.