Which of the following is a driving force underlying economic growth?
What will be an ideal response?
entrepreneurial discovery and production of improved products
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President Reagan was attracted to the theories expounded by the
a. classical school b. Keynesian school c. neo-Keynesian school d. rational expectations school e. supply-side school
Money is channeled from savers to borrowers by banks and other _______.
Fill in the blank(s) with the appropriate word(s).
Which of the following is NOT a fiscal policy action?
A. decreasing government spending on social welfare B. lowering income tax rates C. increasing government expenditures on military hardware D. decreasing the quantity of money in circulation
The Solow model suggests that economies with the same aggregate production function, ratio of workers to the total population and saving rates will ________
A) trade with one another B) start with different initial levels of per capita income C) possess the same rate of depreciation D) experience convergence