In the neoclassical growth model, convergence is conditional upon two countries having
a. the same savings rates.
b. the same depreciation rates.
c. the same technology growth rates.
d. the same population growth rates.
e. all of the above.
E
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Describe the mechanism which would take place if the Bank of England decides to increase its money supply by purchasing domestic assets under the gold standard
What will be an ideal response?
Which of the following is true of marginal revenue for a monopolist that charges a single price?
a. P = MR because there are no close substitutes for the monopolist's product. b. P > MR because the monopolist must decrease price on all units sold in order to sell an additional unit. c. P < MR because the monopolist must decrease price on all units sold in order to sell an additional unit. d. AR = MR because there are no close substitutes for the monopolist's product. e. P = MR only at the profit-maximizing quantity.