Country A experienced a growth rate of real GDP per person of 2.5 percent per year throughout the 1900's. In view of other countries' experiences during this time country A's growth was
a. exceptionally high.
b. moderately high.
c. moderately low.
d. exceptionally low.
a
You might also like to view...
According to the new growth theory
A) technology should be considered as a factor of production. B) technology is a natural by-product of invention. C) technology plays a minor role in economic development. D) technology provides few rewards to the society.
Dole Co operates in a monopolistically competitive market. Which of the following characterizes Dole Co's market?
A) Dole Co. supplies a small portion of the market's output. B) Dole Co.'s product is slightly different from its competitors. C) Dole Co. faced no barrier to entry when it decided to enter its market. D) All of the above describe Dole Co.'s market.
The theory that monetary policy conducted on a discretionary, day-by-day basis leads to poor long-run outcomes is referred to as the
A) adverse selection problem. B) moral hazard problem. C) time-inconsistency problem. D) nominal-anchor problem.
In the Historical Perspective "The Corn Laws Controversy in 19th-Century England," the implication of David Ricardo's theory of differential rent is that
a. high rents were the main cause of high food prices in 19th-century England b. price is rent determining; rent is not price determining c. international trade ought to be restricted since it is instrumental in protecting landowners' rents d. land rents are part of the cost of food production e. differential land rents do not exist