Which of the following statements is NOT consistent with new growth theorists' beliefs?
A. Innovation can lead to lower productivity costs.
B. Technology must be understood in terms of what drives it.
C. Rewards lead to technological advances.
D. Inventions are much more important than innovation.
Answer: D
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Since the 1950s
A) U.S. business cycle fluctuations have become milder. B) U.S. business cycle fluctuations have not changed. C) U.S. business cycle fluctuations have becomes more volatile. D) the United States has not experienced a business cycle.
Keynes hypothesized that the speculative component of money demand was primarily determined by the level of
A) interest rates. B) velocity. C) income. D) stock market prices.
Although the practice of predatory pricing is a common claim in antitrust suits, some economists are skeptical of this argument because they believe
a. the evidence of its practice is nearly impossible to collect. b. predatory pricing is not a profitable business strategy. c. even though predatory pricing is a profitable business strategy, it is on balance beneficial to society. d. predatory pricing actually attracts new firms to the industry.
Figure 17-9
Refer to . The imposition of a tariff on carnations
a.
increases the number of carnations imported by 100.
b.
increases the number of carnations imported by 200.
c.
decreases the number of carnations imported by 200.
d.
decreases the number of carnations imported by 400.