In the neoclassical growth theory
A) small differences in the saving rate or population growth cause large variations in per capita income.
B) large differences in the saving rate or population growth rate cause small variations in per capita income.
C) large differences in the saving rate or small differences in population growth cause large variations in per capita income.
D) small differences in the saving rate or large differences in population growth cause large variations in per capita income.
B
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Vertical integration can lower firms' costs through each of the following except which one?
A) increasing the complexity of coordination B) reducing information costs C) eliminating the hold-up problem D) creating synergies
A decrease in the price of a complement shifts the demand curve to the
a. right b. left c. it does not change the demand curve d. none of the above
Measured as a share of the economy, government expenditures:
a. have been between 10 and 15 percent of the U.S. economy since 1930. b. have been between 20 and 25 percent of the U.S. economy since 1930. c. rose from less than 10 percent in 1929 to about 35 percent currently. d. declined from more than 50 percent in 1929 to approximately 25 percent currently.
Under which circumstances does vertical integration become useful?