According to new growth theory, the primary source of growth is capital.
Answer the following statement true (T) or false (F)
False
Investment in capital is similar to investment in technology, but economists feel it is better to separate the two, when looking at economic growth. New growth theory places emphasis on the contribution of technology as the primary source of growth.
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We can expect very small deviations from interest rate parity in
A) the domestic markets. B) the Eurocurrency market. C) the goods market. D) All of the above.
When economists say the quantity demanded of a product has increased, they mean the:
a. demand curve has shifted to the left. b. demand curve has shifted to the right. c. price of the product has fallen, and consequently, consumers are buying more of it. d. price of the product has risen, and consequently, consumers are buying less of it.
Economies and diseconomies of scale are the reasons why short-run average total cost decreases and then increases
a. True b. False Indicate whether the statement is true or false
The hidden opportunity cost of using protectionism to save jobs in one industry is the sacrifice of jobs that are not created in other industries
a. True b. False Indicate whether the statement is true or false