Extensive growth is driven by
A) very high savings rates.
B) rapid capital accumulation.
C) improved multifactor productivity.
D) A and B.
E) all of the above.
D
You might also like to view...
Which of the following statements is true regarding the difference between a monopolist and a perfectly competitive firm?
a. Competitive price is higher than the price charged by a monopolist. b. Supply of output is higher in case of a monopoly than if the market is competitive. c. A monopoly can choose its price while a competitive firm is a price taker. d. A market characterized by competition has a higher deadweight loss.
Which of the following pairs of policies have inconsistent effects on aggregate demand? a. A tax increase and an increase in the money supply
b. A transfer payment increase and an increase in the money supply. c. A reduction in government purchases and a reduction of the money supply. d. none of the above