Answer the following statement(s) true (T) or false (F)
According to economist Paul? Romer, ideas are what drive economic growth.
True
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In a perfectly competitive market, if market price is higher than the average total cost of production, ________
A) firms will incur losses in the long run B) firms will make profits in the long run C) new firms will enter the industry D) firms will exit the industry
Because interest rates have substantial fluctuations, the ________ theory of the demand for money indicates that velocity has substantial fluctuations as well
A) classical B) Cambridge C) liquidity preference D) Pigouvian
Industrial growth and location changed while manufacturing employment rose in the Sun Belt and fell in the Frost Belt
This growth and relocation were primarily due to the relocation of plants, functions and people moving from the Frost Belt to the Sun Belt. Indicate whether the statement is true or false
Refer to the accompanying figure. For Chris, the opportunity cost of removing one bag of trash is planting:
A. 3 bulbs. B. 1/3 of a bulb. C. 1/25 of a bulb. D. 25 bulbs.