The development of a new technology can provide a way for an economy to sidestep the diminishing marginal returns of capital deepening
a. True
b. False
Indicate whether the statement is true or false
True
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How do changes in the demand for and supply of loanable funds change the real interest rate and quantity of loanable funds?
What will be an ideal response?
Suppose society wants to increase the number of teachers in society but doesn't want to pay teachers any more in salary and benefits. This could only occur by
A) making it more expensive to become a teacher, perhaps by raising college tuition rates. B) making it less expensive to become a teacher, perhaps by offering subsidies to college tuition. C) making computers more powerful. D) increasing the income of student parents.
Peak season demand for Orlando hotel rooms is: Rooms = 200,000 - 1000 Rate. What would be the nightly room rate that would fill all 100,000 rooms in Orlando hotels?
$150 $200 $100 $120 $50
Suppose Bill receives a consumer surplus of $3 on his purchase of a pizza, for which he paid $9. The price Bill was willing and able to pay is
a. $15 b. $12 c. $9 d. $6