An important foundation of the new growth theory is that
A) we will get more technological advances when the rewards for producing them are greater.
B) the growth rate of the capital stock is more important than the growth rate of new knowledge in generating economic growth.
C) we will get more technological advances the more the government is involved.
D) improvements in labor productivity are poor measures of technological growth.
A
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The level of fiscal federalism in the European Union is
A) too big to cushion member countries from adverse economic events. B) too small to cushion member countries from adverse economic events. C) appropriate to cushion member countries from adverse economic events. D) too big relative to the one in the U.S. E) similar in its level to that of the U.S.
Utility refers to the:
a. relationship of demand to the supply of a product. b. satisfaction a consumer experiences after a good or service is purchased. c. satisfaction a consumer expects to receive from a good or service. d. ability of a good or a service to have value in the marketplace. e. usefulness of the product consumed.