Rostow's stages of growth concept could be improved by
a. demonstrating how a country moves from one stage to the next
b. showing when different countries achieved a take-off
c. illustrating the industries that could be leading sectors
d. identifying the investment-to-income ratio that is typical for each stage
e. specifying necessary investment and savings levels
A
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Which statement about money is most correct?
A) Money is a new invention and only includes dollar bills and coins. B) Money is a new invention and can include anything that is accepted as a means of payment. C) Money has been around for a long time and can include anything that is accepted as a means of payment. D) Money has been around for a long time and only includes dollar bills and coins. E) Money has been around for a long time and only includes checking and savings accounts.
Which of the following is an example of a factor that a firm's owners and managers can control in making the firm successful?
A) the ability to produce the product at a lower cost B) the number of competitors in the market C) changing consumer tastes D) a rise in the price of a key input, for example, a rise in the price of oil leads to higher energy costs
Any competitive equilibrium is Pareto efficient because with a competitive equilibrium,
A) the marginal rates of substitution are equal for all consumers. B) the price line is the contract curve. C) mutual gains from trade exist. D) the slope of the price line equals the ratio of the MRS for all consumers.
A person who takes less care of his health after obtaining a health insurance is creating a negative externality
a. True b. False Indicate whether the statement is true or false