If endogenous growth models are correct, a lower rate of growth in the long run could occur as a result of which of the following?
A) a lower rate of saving
B) a lower rate of depreciation
C) a redefinition of depreciation
D) a redefinition of the steady state
E) none of the above
A
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What are the effects of a tariff on a good on various groups and on the total surplus in the country that imposes the tariff?
What will be an ideal response?
An increase in productivity in the agricultural sector in conjunction with an income inelastic demand for farm products
A) causes prices to fall. B) causes prices to rise. C) causes prices to remain constant. D) may cause prices to rise, fall, or remain the same, depending upon the relative shifts in the supply and demand curves.
The 12 regional Fed banks do all of the following except:
A. Clear checks between private banks. B. Lend money to individuals. C. Provide currency to banks. D. Hold bank reserves.
If the Fed orders a contractionary monetary policy, describe what will happen to the following variables relative to what would have happened without the policy:
a. The money supply b. Interest rates c. Investment d. Consumption e. Net Exports f. The aggregate demand curve g. Real GDP h. The price level