According to neoclassical growth theory, the higher real GDP per person from economic growth will
A) not last because the population will increase.
B) last because there is no link between growth and population.
C) last indefinitely regardless of any other factor.
D) last as long as technological change continues.
B
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Refer to Figure 15-6. The profit-maximizing output and price for the monopolist are
A) output = 62; price = $24. B) output = 104; price = $20.80. C) output = 83; price = $22. D) output = 62; price = $18.
What are the five major channels, which developing countries use to finance their external deficit?
What will be an ideal response?
Economic efficiency entails
A) producing a given amount of output with the most expensive mix of inputs. B) producing a given amount of output with the least number of inputs. C) producing a given amount of output with the most inputs. D) producing a given amount of output with the cheapest mix of inputs.
Which of the following most likely describes economics?
a. Economics is not a form of moral instruction. b. Economics is a form of moral instruction. c. Economics seeks to describe economic behavior as it should exist. d. Economics does not seek to describe behavior.