Refer to the list. As distinct from the demand and efficiency factors of economic growth, the supply factors of economic growth are:
Use the list below to answer the following question:
1. Improvements in technology.
2. Increases in the supply (stock) of capital goods.
3. Purchases of expanding output.
4. Obtaining the optimal combination of goods, each at least-cost production.
5. Increases in the quantity and quality of natural resources.
6. Increases in the quantity and quality of human resources.
A. 2, 5, and 6 only.
B. 2, 4, 5, and 6 only.
C. 1, 2, 5, and 6 only.
D. 1, 3, and 4 only.
C. 1, 2, 5, and 6 only.
You might also like to view...
Which is not true of the interest rate?
A. It is the price at which funds can be rented. B. It is the price at which funds can be borrowed. C. It affects the marginal revenue product of capital. D. It does not affect the marginal revenue product of capital.
Suppose that the economy is currently at full employment. All other things being equal, if the government implements restrictive policies then the appropriate monetary policy is
a. no change from the current policy. b. reduce the growth of the money supply. c. constant growth of the money supply. d. increase the growth of the money supply.
Which of the following is true of an economic model? a. It is a simplified representation of a situation that includes enough of the key features to be useful. b. It is always based on a mathematical formula
c. It is a physical representation of a real world situation in a laboratory. d. It is always named after the economist who devises it.
When the economy is at equilibrium,
A. There are no leakages. B. Inventories must equal zero. C. Leakages equal aggregate demand. D. Leakages equal injections.