According to new growth theory,
A) growth in real GDP per capita occurs only if there are increasing returns.
B) technological change is influenced by economic incentives.
C) economic growth is determined by forces outside the control of the market system.
D) centrally-planned economies are the most efficient.
B
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"Fluctuations in exchange rates, other things remaining the same, creates a situation in which money buys the same amount of goods and services in different currencies
" What does the previous statement describe? Will these fluctuations occur in the short run or the long run?
Assume a market is perfectly competitive. When a new producer enters the market, the
a. price in the market increases. b. price in the market decreases. c. price in the market does not change. d. market is no longer a competitive market.