Which of the following factors are considered under "new growth theory"?
A) research B) technology
C) innovation D) All of the above are correct.
D
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Refer to Figure 8.1. The profit-maximizing output is
A) 30. B) 54. C) 60. D) 67. E) 79.
The SRAS curve is upward sloping, there is a liquidity trap, and investment spending is sensitive to changes in the interest rate. According to the monetarist transmission mechanism, if the money supply increases the AD curve __________ and the price level __________
A) does not change; does not change B) shifts to the left; falls C) shifts to the right; rises D) does not change; rises E) none of the above
A natural monopoly is most likely to occur in which of the following industries?
A) the pharmaceutical industry because the development and approval of new drugs through the Food and Drug Administration can take more than 10 years B) the diamond mining and marketing industry because one firm can control a key resource C) the software industry because of the importance of network externalities D) an industry where fixed costs are very large relative to variable costs
The supply of dollars in the foreign exchange market is likely to be upward sloping because as the price of a dollar (the exchange rate) rises
A. Americans demand more foreign goods because these goods have become less expensive to American consumers. B. Americans demand fewer foreign goods because these goods have become more expensive to American consumers. C. foreigners demand fewer foreign goods because these goods have become more expensive to foreign consumers. D. foreigners demand more American goods because these goods have become less expensive to foreign consumers.