What is the difference between basic research and applied research? Provide one example of each.
What will be an ideal response?
Basic research is devoted to scientific investigations that have no immediately obvious commercial applications, whereas applied research is devoted to solving real-world problems. Examples of basic and applied research might vary widely, but basic research might involve astronomical or high-level mathematical research, whereas applied research might involve solving a problem in engineering or software development that will aid in the production of a commercial product.
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Because the Federal Reserve System is a central bank, it provides banking services to
A) no one. B) consumers and business. C) commercial banks. D) the government only. E) businesses only.
With higher future taxes
A) current consumption declines. B) current consumption stays the same. C) current consumption increases. D) current consumption depends on other factors.
Are all categories of government expenditures included in gross domestic product? What government activities are not included in GDP?
What will be an ideal response?
What is the pure rate of interest?
What will be an ideal response?