Solow's theory of economic growth concludes, "the possibility of steady growth would be a miraculous stroke of luck" because
A) the three "determinants," s, (Y/K) and n are caused by different unrelated behavior.
B) s reflects temporal consumption preferences.
C) d reflects unrelated depreciation.
D) n reflects birth control decisions.
A
Economics
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Assuming the demand curve is downward sloping, as price increases, the price elasticity of demand for a good (in absolute value) and marginal revenue:
A) increase. B) stay the same. C) decrease. D) cannot be determined.
Economics
The demand for an input used in a fixed proportions technology
A) is identical to the demand for the other inputs. B) is greater than the demand for the end product itself. C) lies below the demand for the end product itself. D) is the same as the demand for the end product itself.
Economics