Which of the following is best considered a demand factor in economic growth?
A. The quantity of human resources
B. The quality of natural resources
C. The stock of capital goods
D. The full employment of resources
D. The full employment of resources
You might also like to view...
As the time a person has to adjust to a price change increases, the elasticity of demand will ______.
a. decrease b. increase c. remain constant d. fluctuate
Using the income approach, the largest component in the calculation of GDP is:
A. net interest. B. rental income. C. profits. D. compensation of employees.
The individual firm operating in a perfectly competitive labor market
A. can hire more labor only by offering a higher wage. B. can buy all the labor it wants at the going market wage rate. C. faces an inelastic demand for labor. D. will pay less to the additional labor employed.
The Romer model is distinct from the Solow model in that the former assumes that ________
A) technology is fixed B) an increase in price affects quantity demanded, rather than demand C) some labor is devoted to producing new technology D) output per worker is fixed