According to the new growth theory, economic growth will continue with
A. an increased focus on labor-intensive jobs.
B. the development of new ideas.
C. development of natural resources.
D. increases in population growth.
Answer: B
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Suppose a bond promises to pay its holder $100 a year forever. The interest rate on the bond rises from 4 percent to 5 percent. The price of the bond
A) falls from $2,500 to $2,000. B) does not change because it is not affected by the interest rate. C) falls from $25,000 to $20,000. D) rises from $2,000 to $2,500.
A change in the composition of the population will generally
a. change demand only if there is a change in the size of the population b. change demand only if there is no change in the size of the population c. change demand even if there is no change in the size of the population d. have absolutely no effect on demand e. result in a movement along the demand curve
Adding more resources to production causes
a. a downward movement along the production possibilities curve b. the production possibilities curve to shift in toward the origin c. an upward movement along the production possibilities curve d. the production possibilities curve to shift out from the origin e. the production possibilities curve to become positively sloped
Two series are said to be cointegrated if:
A. both series are I(1) but a linear combination of them is I(0). B. both series are I(0) but a linear combination of them is I(1). C. both series have the same set of explanatory variables but a different dependent variable. D. both series have the same dependent variable but a different set of explanatory variables.