Large increases in educational attainment would likely be a source of
A. import competing growth.
B. specialized growth.
C. concentrated growth.
D. generalized growth.
Answer: D
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The demand for money is downward sloping, because at higher interest rates
A) the opportunity cost of holding money is higher. B) the opportunity cost of holding money is decreasing. C) the opportunity cost of holding money is constant. D) the opportunity cost of holding cash is lower.
Refer to Figure 9.3. If the market is in equilibrium, total consumer and producer surplus is
A) $0. B) $4. C) $5. D) $600. E) $800.
Which of the following best describes an argument for convergence?
a. Low-income countries tend to have higher levels of human capital and physical capital, so an investment in capital deepening should have a larger marginal effect in these countries than in high-income countries. b. Low-income countries tend to have higher levels of human capital and physical capital, so an investment in capital deepening should have a lower marginal effect in these countries than in high-income countries. c. Low-income countries tend to have lower levels of human capital and physical capital, so an investment in capital deepening should have a larger marginal effect in these countries than in high-income countries. d. Low-income countries tend to have lower levels of human capital and physical capital, so an investment in capital deepening should have a lower marginal effect in these countries than in high-income countries.
The demand for shoes will likely be price ________ while the demand for Sketchers Go Walk walking shoes will likely be price ________.
A. inelastic; elastic B. elastic; inelastic C. elastic; elastic D. inelastic; inelastic