In the neoclassical growth theory, differences in per capita income are determined by differences in the
A) saving rate.
B) population growth rate.
C) depreciation rate.
D) all of the above.
D
You might also like to view...
Free trade benefits the nation as a whole but may hurt specific industries and workers.
Answer the following statement true (T) or false (F)
The following figure shows the domestic demand (Dd) and domestic supply (Sd) curves of mopeds in a country before an import quota is imposed by the government. After the imposition of the quota, the maximum import quantity is QQ.
After the quota is imposed, the domestic consumers
A. lose $22.5 million. B. gain $52.5 million. C. lose $82.5 million. D. lose $7.5 million.
When Bono forms his future expectations for the economy using all available current data and his own judgment about future policy effects, this is known as
A. the new classical theory. B. the policy irrelevance proposition. C. rational expectations. D. irrational expectations.
Assume an economy produces only hamburgers and hotdogs and the base year is 2005. Quantity producedPrices 2005200620052006Hamburgers2,0003,0002$3Hotdogs3,0004,0001$1.50Given the data in the table above, what is the value of real GDP in 2006?
A. $ 7,000 B. $ 5,000 C. $10,000 D. $10,500