New growth theorists conclude that
A) invention is more important than innovation in spurring economic growth.
B) economic growth can continue as long as we keep coming up with new ideas.
C) rates of global economic growth are limited by the amount of raw materials available.
D) the amount of technological innovation in an economy is independent of the rewards offered for innovation.
B
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Suppose two individuals, Pooh and Piglet, desire protection (provided by Tigger) for their community, The Hundred Acre Wood, from heffalumps. Protection is a public good
The marginal cost of protection as well as Piglet's and Pooh's marginal benefits from protection are in the table above. What is the quantity of protection that achieves the maximum net benefit? A) 1 hour per day B) 2 hours per day C) 3 hours per day D) 4 hours per day
If the money supply grows at 6% and the inflation rate is 2%, the quantity theory predicts that the change in real GDP will be
A) 0.33%. B) 3%. C) 4%. D) 8%.
The primary difference between an American and European option is:
A) American options must be exercised on the expiration date B) European options must be exercised on the expiration date C) American options may be exercised at any point up until the expiration date D) European options may be exercised at any point up until the expiration date
The upward slope of an aggregate expenditure line is determined by the real interest rate
a. True b. False Indicate whether the statement is true or false