The key prediction of the Solow model adapted to include technological change ________ been born out, i.e. with a few exceptions convergence ________ a reality
A) has not, is not
B) has not, is
C) has, is not
D) has, is
A
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Marginal benefit
A) increases as more of a good is consumed. B) decreases as more of a good is consumed. C) is the total benefit from all units consumed. D) is constant as more of a good is consumed. E) is the gain to the producer of producing and selling one more unit of a good.
Economic growth is best defined as
A) decreases in potential GDP. B) increases in potential GDP. C) rightward shifts of the AD curve. D) rightward shifts of the SAS curve.
Brazil and Russia both depend on capital equipment as their primary exports
Indicate whether the statement is true or false
In the Keynesian-cross model, if the MPC equals 0.75, then a $1 billion decrease in taxes increases planned expenditures by ______ and increases the equilibrium level of income by ______.
Fill in the blank(s) with the appropriate word(s).