Elucidate Reliance on technology and capital goods
Elucidate Reliance on technology and capital goods of the market system?
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1. Competition, freedom of choice, self-interest, and the potential of profits provide the incentive for capital accumulation (investment).
2. Advanced technology and capital goods uses the more efficient roundabout method of technology.
Illustrate how Macroeconomics examines the economy as a whole?
Question: 1. Long-term Growth, International Trade & Globalization a. In terms of understanding the importance of trade to an economy, the most impor
What will be produced in all economic systems?
Suppose studies show that students who study more hours receive higher grades. Is there any relationship which guarantees that any particular student who studies longer will get higher grades?
Who will get the goods and services?
Illustrate the rate of exchange of two products?
How do you account for the dominant role of corporations in the U.S. economy?
Question: A country with a fixed or managed exchange rate would consider i.___________________ its currency to gain competitive advantage vis-à-vis its trade
Explain the impact of external costs and external benefits on resource allocation
To be productively efficient, a country should: (w) maximize the satisfaction attainable from its budget. (x) be concerned only with macroeconomic analysis. (y) concentrate on removing scarcity. (z) maximize the value of output produced through specif
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