Which of the following statements about technology is true?
a. It is a sufficient but not necessary condition for economic growth.
b. Management techniques are irrelevant to technological growth.
c. Industrial countries follow the lead of developing countries in implementing new technology.
d. Technological change is inversely related to a nation's ability to save.
e. Low levels of education can impede technological progress.
e
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Answer the following statement(s) true (T) or false (F)
1. The copycat game does not have a pure strategy Nash Equilibrium. 2. When mixed strategies are allowed, the Copycat Game does have a Nash equilibrium. 3. Nash equilibrium is a normative concept. 4. For an outcome to be Pareto optimal, the players' total payoff must be as large as possible. 5. If either player is receiving his maximum payoff, then that outcome is Pareto optimal.
The concept of "wages" does not include which of the following items?
A. bonuses and royalties earned B. money spent by workers C. direct money payments, like salaries and commissions D. fringe benefits, like health insurance and paid leave
If revenue in the short run is less than variable costs, what should the firm do?
What will be an ideal response?
A decrease in supply will occur when
A) the supply curve shifts downward to the right. B) the supply curve shifts upward to the left. C) the demand curve shifts downward to the left. D) the demand curve shifts upward to the right.