Which of the following is NOT associated with the new growth theory?
A) natural resources
B) research
C) technology
D) innovation
A
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In Figure 45.5, where one union is bargaining against one employer, the wage paid to workers will be 
Figure 45.5
A. W2. B. W1. C. W*. D. an undetermined point between W1 and W2.
The economy can be in equilibrium and in a recessionary gap simultaneously
Indicate whether the statement is true or false
To move from gross domestic product (GDP) to gross national product (GNP), one must:
A. add depreciation to GDP. B. subtract depreciation from GDP. C. add net foreign factor income to GDP. D. subtract net foreign factor income from GDP.
The income elasticity of demand is calculated as the
A. percentage change in quantity demanded divided by the percentage change in income. B. percentage change in quantity demanded multiplied by the percentage change in income. C. percentage change in income divided y the percentage change in price. D. percentage change in income divided by the percentage change in quantity demanded.