Innovation tends to be an extremely competitive activity that allows few opportunities for firms to share information with one another

Consider an open economy that is a net borrower (like the United States). What would be the impact of a shift to a closed economy?

A) domestic interest rates would decline B) domestic savings would decline C) domestic investment would decline D) net borrowing would increase

To say that "there is a scarcity of gold" means that:

a. gold prices will plummet. b. there is not enough gold to satisfy people's demand. c. there are a very few substitutes for gold. d. gold is relatively less expensive than other metals. e. the demand for gold is changing.