The growth model in which capital accumulation plays the key role is called the:
A. new Classical growth model.
B. Classical growth model.
C. Keynesian model.
D. new growth model.
Answer: B
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
The above figure shows Dana's marginal benefit curve for ice cream. If the price of ice cream is $2 per gallon, then the gallon that gives Dana exactly zero consumer surplus is
A) the 8th gallon. B) the 12th gallon. C) the 16th gallon. D) the 20th gallon.
Why do firms ignore external costs when they pollute?
What will be an ideal response?
Having insatiable wants is similar to saying that
a. people should not be so greedy b. more is always better c. total satisfaction is obtainable d. resources are scarce e. limits are surmountable