The three most important sources of economic growth are
a. increases in employment, protection of resources, and changes in technology
b. decreases in employment, decreases in the money supply, and improvements in technology
c. increases in employment, increases in the capital stock, and reductions in environmental pollution
d. increases in employment, increases in the capital stock, and improvements in technology
e. increases in employment, decreases in the money supply, and increases in capital stock
D
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In calculating multifactor productivity growth, the elasticity of output to changes in capital (given as "b" in the textbook) is assumed to be
A) one minus the population growth rate. B) the depreciation rate. C) the share of capital income in GDP.
Explain the difference between the CPI and GDP deflator measures of inflation. Which one is likely to measure inflation higher? Why?
What will be an ideal response?