Classical growth theory predicts that in the long run there will be
A) sustained increases in the productivity growth rate.
B) negative economic growth.
C) zero economic growth.
D) positive economic growth.
E) sustained increases in economic growth.
C
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The expected return on dollar deposits in terms of foreign currency can be written as the ________ of the interest rate on dollar deposits and the expected appreciation of the dollar
A) product B) ratio C) sum D) difference
John Maynard Keynes ________
A) questioned the classical view that economies move quickly to their long run equilibrium levels B) advocated focusing on short run fluctuations C) carved out macroeconomics as a distinct field in the 1930s D) all of the above E) none of the above
An increase in per capita income will generally lead to
a. more material goods, but a decline in the quality of the environment. b. a reduction in life expectancy because working conditions are less desirable. c. an increase in the number of hours worked by residents. d. an increase in the living standards of most people.
In moving along a demand curve for good X, which of the following is NOT held constant?
A) the prices of substitute goods for good X B) the prices of complementary goods for good X C) incomes of consumers of good X D) the price of good X