Macro Chapter 7, 11, & 12

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10 points

Which of the following best describes a situation where research is considered relatively fertile?

research that can be produced by other countries

research that results in children being born.

research that turns into many other products

research that makes over a million dollars

10 points

The savings rate is determined by how much money a person in the US is able to save from their income tax refund check.

True

False

10 points

_____________________is an intergovernmental organization dedicated to stability in and shared control of the petroleum

OPERC

OCERP

OPEC

stagflation

10 points

A ________________ is an analytical tool designed to describe the operation of the economy of a country or a region.

macroeconomic model

microeconomic model

aggregate demand supply

neutrality of money

10 points

The Social Security system in the United States was introduced in which year?

1901

1940

1935

1955

10 points

OPEC stands for _________________ .

Organization of the Petroleum Exporting Countries

Output of the Petroleum Exporting Countries

Organization of the Petroleum & Oil Exporting Countries

Oil of the Petroleum Exporting Countries

10 points

Patents represent

A type of fabric mostly worn on shoes that presents great macro opportunities for the country.

the only way you can make an invention.

the protection given to new products by the law.

getting money for your invention.

10 points

A period of time extending over decades

medium run

short run

decade run

long run

10 points

Models without exogenous technological progress that have steady state growth are called endogenous growth models.

True

False

10.

10 points

The set of skills of workers is called

capital

human capital

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