An assumption of neoclassical growth theory is that
A) technological change is random.
B) technological change can be influenced by savings.
C) more growth encourages more technological change.
D) None of the above answers is correct.
A
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Increases in the stock of capital are the result of decreases in
A) net investment. B) depreciation. C) gross investment. D) all of the above.
Which of the following would shift the supply curve to the right?
A) A rise in the expected future price of the good B) A rise in the costs of producing the good C) Fewer producers in the industry D) All of the above. E) None of the above.
Assume that the demand curve for DVD players shifts to the left and the supply curve for DVD players shifts to the right, but the supply curve shifts more than the demand curve. As a result,
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will increase. D) the equilibrium price of DVD players will decrease; the equilibrium quantity will increase.
If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:
A. growth rate in 20 years. B. growth rate in 70 years. C. real GDP per capita in 20 years. D. real GDP per capita in 70 years.