The neoclassical growth theory says, in part, that
A) a population explosion driven by economic growth will end economic growth.
B) technological change leads to economic growth.
C) the differences in nation's growth rates will persist indefinitely.
D) technology does not play a role in economic growth.
B
You might also like to view...
Government transfer payments include which of the following?
A) grants to state and local governments B) interest on the national debt C) Social Security and Medicare programs D) national defense
Look at the following data: The frictional unemployment rate is 2 percent, the structural unemployment rate is 3.5 percent, and the actual unemployment rate is 9.5 percent. The natural unemployment rate is ____________ percent and the cyclical unemployment rate is __________ percent
A) 1.5; 4 B) 5.5; 4 C) 1.5; 6 D) 6; 15