In the long run, a country will experience an increasing standard of living only if it experiences
A) a high rate of consumption. B) a slow rate of population growth.
C) continuous technological change. D) a high rate of labor force growth.
C
You might also like to view...
A bank reports reserves of $100,000, government securities of $250,000, loans of $750,000, checkable deposits of $900,000, and owners' equity of $200,000
The desired reserve ratio is 10 percent and the bank wants to hold as reserves only the amount it is required to hold. What is the amount of excess reserves for this bank? Show your work.
In which of the following situations is the political process likely to result in the inefficient and wasteful use of resources?
a. when the benefits are concentrated and the costs are concentrated b. when the benefits are concentrated and the costs widespread c. when the benefits are widespread and the costs are concentrated d. when the benefits are widespread and the costs are widespread