Two Countries Are the Same,except One Is Poorer

question 47

Multiple Choice

Two countries are the same,except one is poorer.Assuming the traditional assumption about the production function is made there are

• A)diminishing returns to capital so the poor country grows slower.
• B)increasing returns to capital so the poor country grows slower.
• C)diminishing returns to capital so the poor country grows faster.
• D)increasing returns to capital so the poor country grows faster.

Differentiate between various types of variables in economics (relative, dichotomous, real, nominal).

Calculate the velocity of money given the money supply, money demand, and GDP.

Analyze the effect of central banks' monetary policies on the economy during recession periods.

Identify the effects of shifts in the money supply curve on equilibrium value, price levels, and money demand.

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Definitions:

Extinction Resistance

The phenomenon where a learned behavior persists even after it is no longer reinforced, indicating a resistance to extinction.

Correct Responses

Answers or actions that are deemed accurate or appropriate in a given situation, often determined by a set of rules or guidelines.

Negative Punishment

A behavior modification technique involving the removal of a desirable stimulus to decrease the likelihood of a behavior's recurrence.

Positive Punishment

A decrease in behavior that results from an added consequence.