New growth theory is concerned with
A) finding a good way to measure economic growth.
B) increasing the savings rate in the U.S.
C) understanding the forces that increase productivity.
D) understanding how compounding works.
C
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The curve that shows the relationship between inflation and unemployment when the economy is at full employment is the
A) aggregate supply curve. B) long-run Phillips curve. C) long-run Okun's curve. D) aggregate demand curve. E) short-run Phillips curve.
Money is
A) anything backed by gold. B) any durable good. C) whatever people use as a general medium of exchange. D) something intentionally created by farsighted people.
A beneficial supply shock would cause the FE line to
A) shift to the right. B) shift to the left. C) remain unchanged. D) remain unchanged if the shock is temporary; shift to the right if the shock is permanent.
The international investment position of the United States is negative. This means that
A) the U.S. current account balance is positive. B) foreigners own more U.S. assets than domestic residents own foreign assets. C) foreigners own fewer U.S. assets than domestic residents own foreign assets. D) the U.S. current account balance is negative.