In high-income nations, the diminishing returns associated with capital deepening can offset the gains from technology
a. True
b. False
Indicate whether the statement is true or false
False
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On the graph above, suppose the economy has moved from point H to point G. If the shock was temporary and inflation expectations are adaptive, the economy will next ________
A) return to point H B) move to point F C) move to a point between points G and H D) remain at point G E) none of the above
Credibility is not important in ________
A) new Keynesian and traditional Keynesian theory B) real business cycle and traditional Keynesian theory C) real business cycle and new Keynesian theory D) traditional Keynesian, new Keynesian and real business cycle theory
Labor is the only resource that cannot earn rent
Indicate whether the statement is true or false
Empirical studies indicate that the maximum amount of air pollution occurs ________ levels of real GDP per person.
A. at "middle-income" B. at the lowest C. equally at all D. at the highest