Mass adoption of technology, like the steam engine, was not influenced greatly by the relative benefits and costs of the new technology compared to existing technology
Indicate whether the statement is true or false
False
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Government borrowing may crowd out borrowing by private interests because
A) funds are not available at any interest rate. B) the equilibrium interest rate increases. C) the supply curve shifts to the left. D) None of the above.
Many studies show that price and concentration ratios are
a. not related b. inversely related c. positively related d. constant e. both higher in perfectly competitive markets
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Since the late 1990s, to prevent the yuan from appreciating against the U.S. dollar, the Chinese central bank
A. has purchased Chinese government bonds. B. has been trying to hold euros and British pounds as foreign assets. C. has been buying dollars and selling yuan in the foreign exchange market. D. has been selling foreign assets to replenish its dollar reserves.