When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing i. seasonal unemployment. ii

When a bank takes money that you put in your checking account and gives it to someone else, at a cost, for a period of time, it is said to be

A) making a loan. B) making a deposit. C) internalizing an externality. D) creating commodity money.

"According to the neoclassical growth theory, national incentives to save, invest, accumulate human capital, and develop new technology influence the country's growth rate of real GDP." Comment on the accuracy of the previous statement

What will be an ideal response?