According to the new growth theory
A) technology should be considered as a factor of production.
B) technology is a natural by-product of invention.
C) technology plays a minor role in economic development.
D) technology provides few rewards to the society.
A
You might also like to view...
If the government runs a budget deficit to fight a war and there is no Ricardo-Barro effect, what is an impact of the deficit?
A) The quantity of investment increases. B) The real interest rate rises. C) Firms purchase more capital equipment. D) Animal spirits or irrational exuberance is created. E) The quantity of private saving decreases.
Isoquant lines represent ________ whereas isocost lines represent ________
A) technical efficiency; economic efficiency B) economic efficiency; technical efficiency C) economic efficiency; marginal costs D) input tradeoffs; economic tradeoffs
Negative market feedback refers to a tendency for
A) one or two firms in an oligopolistic industry to respond to price decreases by initiating efforts to engage in price leadership. B) a particular product to fall out of favor with additional consumers because other consumers have stopped purchasing the product. C) the dominant firm in an oligopolistic industry to react to competing firms' price increases by decreasing the price of its own product. D) price wars to break out in oligopolistic industries in which firms produce products possessing characteristics that make them prone to network effects.
Which of the following statements is true of hypothesis testing?
A. The t test can be used to test multiple linear restrictions. B. A test of single restriction is also referred to as a joint hypotheses test. C. A restricted model will always have fewer parameters than its unrestricted model. D. OLS estimates maximize the sum of squared residuals.