An important foundation of the new growth theory is that
A) we will get more technological advances when the rewards for producing them are greater.
B) the growth rate of the capital stock is more important than the growth rate of new knowledge in generating economic growth.
C) we will get more technological advances the more the government is involved.
D) improvements in labor productivity are poor measures of technological growth.
A
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The primary liabilities of a commercial bank are
A) bonds. B) mortgages. C) deposits. D) commercial paper.
The short-run average total cost curve is generally assumed to be:
A. downward-sloping. B. U-shaped. C. upward-sloping. D. horizontal.
Which of the following does not contribute to the high productivity of the U.S. economy?
A. Factor mobility. B. The capital stock. C. Technology. D. Negative externalities.
Which of the following would most likely exhibit the highest price elasticity of demand?
A) gasoline B) Colgate toothpaste C) motor oil D) salt