The lack of an entrepreneurial class in developing nations tends to:
A. Keep workers from migrating to cities from rural areas
B. Reduce the level of capital investment
C. Force the need for land reform
D. Keep governments stable
B. Reduce the level of capital investment
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If the credit supply curve of an economy shifts to the left and the credit demand curve remains unchanged, ________
A) its real interest rate will rise B) its real unemployment level will fall C) its real interest rate will fall D) its real output will increase
Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music player. CEO Steve Jobs also unveiled cheaper models of its Touch music player, a touchscreen-only device
An 8-gigabyte version now costs $230, down from $300. A 32-gigabyte model costs $400, down from $500. Calculate the price elasticity of demand for a 32 gigabyte Touch player if the quantity demanded increases from 850,000 to 950,000 the month after the price decrease. A) 0.5 B) 1.5 C) 1 D) 0.75