Which of the following is most important if a country is going to achieve and sustain rapid economic growth?
A) an open and competitive capital market
B) high tariffs and imposition of other trade restrictions
C) high rates of inflation
D) high marginal tax rates
A) an open and competitive capital market
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Refer to the table above. After applying the second bag of fertilizer, the farmer experienced
A) constant returns. B) diminishing returns. C) increasing returns. D) negative returns.
The appreciation of the dollar will make U.S. goods ________ to foreigners and make imports ________ for U.S. residents
A) more expensive; cheaper B) cheaper; more expensive C) more expensive; more expensive D) cheaper; cheaper
If the technology associated with producing fiber-optic cable continues to advance, over time the cost of producing fiber-optic cable will
A) decrease, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market. B) decrease, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry. C) increase, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market. D) increase, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry. E) decrease, firms that do not use the new technology will make an economic profit, and in the long run new firms will enter the market.
The introduction of new technologies ________ the real interest rate and ________ the equilibrium quantity of national saving.
A. increases; decreases B. increases; increases C. decreases; decreases D. decreases; increases