In 1961, President Kennedy committed the United States to a manned lunar mission by the end of the decade. Few thought it could actually be done, but of course it did, with five months to spare. This story might illustrate a __________ growth theory argument that technological change __________
A) new; can be deliberately accelerated
B) new; relies on government policy
C) neoclassical; can be deliberately accelerated
D) neoclassical; relies on government policy
A
You might also like to view...
Use the following table to answer the question below.Price per UnitQuantity Demanded per YearQuantity Supplied per Year$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In this competitive market, the price and quantity will settle at
A. $25 and 1,200 units. B. $10 and 1,800 units. C. $20 and 900 units. D. $15 and 1,600 units.
The key assumption of the Romer model that allows an explanation of sustained growth in output per person is ________
A) technology is nonrivalrous B) the total amount of labor is fixed C) some labor is devoted to producing new technology D) the saving rate is fixed
The mangers of Happy Campers and Camp with Us are engaged in a strategic interaction in which their interests are aligned, but there is more than one possible equilibrium. All of the following can help the managers determine the equilibrium outcome except which one?
A) an announcement made by either firm regarding their future plans B) the Pareto criterion C) bargaining D) a focal point
If the price in Canada was C$50 and the price in Switzerland was SFr 100, absolute purchasing power parity would indicate that:
a. The nominal value of the Swiss franc should rise by 100%. b. The nominal exchange rate should be equal to C$2/SFr. c. The nominal value of the Canadian dollar should rise by 100%. d. The nominal exchange rate should be equal to C$0.50/SFr. e. None of the above.