The story of innovation battles among firms is analogous to the story of armaments races among countries
a. True
b. False
Indicate whether the statement is true or false
True
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The crowding-out effect is more likely to dominate the crowding-in effect when investment is relatively
a. insensitive to interest rates and to GDP. b. insensitive to interest rates but sensitive to GDP. c. sensitive to interest rates and to GDP. d. sensitive to interest rates and insensitive to GDP.
A pure price change occurs
A. when technology and quality improve an item. B. when inflation alone increases the price of an item. C. with unanticipated inflation. D. when inflation exceeds expected inflation rates.
The "brain drain" problem in the DVCs refers to the fact the best-educated workers:
A. are reluctant to become entrepreneurs. B. are concentrated in rural areas where their skills are underutilized. C. often immigrate to industrialized countries. D. are reluctant to work in the public sector.
If the price level rises by 3 percent and workers' money wage rates increase by 2 percent, then the
A) quantity of labor demanded will decrease. B) quantity of labor demanded will increase. C) quantity of labor demanded does not change because there is no change in the real wage rate. D) real wage rate increases.