Economics

New growth theorists conclude that A) invention is more important tha

New growth theorists conclude that A) invention is more important than innovation in spurring economic growth. B) economic growth can continue as long as we keep coming up with new ideas. C) rates of global economic growth are limited by the amount of raw materials available. D) the amount of technological innovation in an economy […]

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Date: September 2nd, 2020

The development of human capital A) is a form of investment. B) enhan

The development of human capital A) is a form of investment. B) enhances economic growth, but the individuals acquiring the capital are not made better off themselves. C) does not appear to enhance economic growth. D) enhances economic growth, but it does not improve the productivity of the labor force.   ANSWER A

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Date: September 2nd, 2020

When the market for a commodity is in equilibrium: A) there will stil

When the market for a commodity is in equilibrium: A) there will still be some unsold stock of the commodity. B) all sellers of the commodity will want to change their behavior. C) no economic agent will want to change his or her behavior. D) all buyers of the commodity will want to change their […]

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Date: September 2nd, 2020

“Supply creates its own demand” implies that A) the very act of suppl

“Supply creates its own demand” implies that A) the very act of supplying a particular level of goods and services will not necessarily equal the level of goods and services demanded. B) the very act of demanding a particular level of goods and services necessarily equals the level of goods and services supplied. C) the […]

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Date: September 2nd, 2020