The source of "cutting-edge" growth is:
A. advances in technological knowledge.
B. foreign investment.
C. investment in physical capital.
D. education and training to build human capital.
Ans: A. advances in technological knowledge.
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What is marginal analysis?
What will be an ideal response?
Under the assumption of rational expectations, government fiscal and monetary policy changes are effective in the short run
A) all of the time. B) only when the short-run aggregate supply curve is the same as the long-run aggregate supply curve. C) only when the policy changes leave the position of the aggregate demand curve unaffected. D) only when the policy changes are unanticipated.
Some economists believe that the good times of the early 2000s were not sustainable because they were creating a dangerous financial bubble and trade deficit.
Answer the following statement true (T) or false (F)
Broadly defined, technological advance:
A. can occur in the short run, long run, or very long run. B. comprises new and improved goods and services and/or new and improved ways of producing or distributing them. C. includes invention but not innovation or diffusion. D. includes product innovation but not process innovation.