According to Paul Romer, if a country can grow continuously if it ______.
a. increases its population size at a rate of at least 2 percent annually
b. offsets diminishing returns through technological innovation
c. encourages its citizens to consume at least 93 percent of their incomes
d. has abundant natural resources within its borders
b. offsets diminishing returns through technological innovation
You might also like to view...
In the figure above, at which point (a, b, or c) along the linear demand curve illustrated would demand be
a) most elastic? b) most inelastic?
Refer to Table 9-3. If the required reserve ratio is 10% and the market interest rate is 6%, then the opportunity cost of holding excess reserves is
A) zero since Alpha-Beta does not hold any excess reserves. B) $0.9 million. C) $2.4 million. D) $4 million.
Refer to the diagram below of the market for corn. If the price in this market is at $4 per bushel, then there will be a:
A. Surplus and the price will tend to rise
B. Shortage and the price will tend to rise
C. Surplus and the price will tend to fall
D. Shortage and the price will tend to fall
Refer to the information provided in Figure 5.7 below to answer the question(s) that follow.
Figure 5.7The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.Refer to Figure 5.7. The total revenue the government will receive from the imposition of this tax is
A. $875. B. $1,225. C. $2,100. D. $3,600.