In new growth theory, growth in real GDP per person occurs because
i. human capital grows indefinitely.
ii. technology advances as a result of choices individuals make.
iii. profit incentives encourage technological change.
A) i only B) ii only C) iii only D) both i and iii E) i, ii, and iii
E
You might also like to view...
Which of the following firms is most likely to be a perfectly competitive firm?
a. one of the three largest U.S. automakers b. one of the "Seven Sisters" oil producers c. a public school operated by the government d. a soybean farmer e. a manufacturer of refrigerators
If butter is a substitute for margarine, then an increase in the price of butter would be most likely to cause:
a. a rightward shift of demand for margarine. b. a leftward shift of demand for margarine. c. the quantity demanded for margarine to increase. d. the quantity demanded for margarine to decline. e. a decline in the price of margarine.