In the Romer model, as more labor is devoted to research and development there is ________
A) an immediate increase in output per capita and a permanent increase in output per capita
B) an immediate decrease in output per capita and a permanent increase in output per capita
C) an immediate increase in output per capita and a permanent decrease in output per capita
D) an immediate decrease in output per capita and a permanent decrease in output per capita
B
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Two countries, Blue Violet and Sweet Pansy, produce only two goods: teapots and coffeepots. The table above gives their production possibilities
A) Blue Violet has a comparative advantage in teapots. B) Sweet Pansy has a comparative advantage in teapots. C) Both have a comparative advantage in teapots. D) Sweet Pansy has an absolute advantage in teapots.
All else equal, an increase in the price of complementary products for the Apple Watch, such as Sensoria's wearable technology, would
A) shift the supply curve for the Apple Watch to the right. B) shift the demand curve for the Apple Watch to the left. C) shift the demand curve for the Apple Watch to the right. D) shift the supply curve for the Apple Watch to the left.
The government sometimes provides public goods because
a. private markets would not produce any of the goods. b. private markets would not produce the efficient quantity of the goods. c. private markets would charge too high a price for the goods. d. the government produces public goods more efficiently than private markets can.
The coupon rate for a coupon bond is equal to the:
A. purchase price of the bond divided by the coupon payment. B. annual coupon payment divided by the selling price of the bond. C. annual coupon payment divided by the face value of the bond. D. annual coupon payment divided by the purchase price of the bond.