What are the main characteristics of modern economic growth? What is the effect of modern economic growth on the cultural, social and political arrangements of our times?
Please provide the best answer for the statement.
Modern economic growth is characterized by sustained and ongoing increases in living standards that can cause dramatic increases in the standards of living within less than a single human lifetime. Modern economic growth has had significant cultural, social and political effects. For example, the amount of time for leisure and arts has considerably increased in recent times, ancient social norms and legal restrictions against women and minorities have been largely eliminated, and democracies have replaced other more extreme types of political arrangements.
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The 25 years prior to the crisis of 2008-2009 were
a. characterized by more instability than the first 50 years of the twentieth century. b. the most stable economic quarter of a century in American history. c. characterized by more monetary and price instability than any era other than the 1970s. d. a period of historically slow growth and high unemployment.
Refer to the following nonlinear model which relates W to P, Q, and R:W = aPbQcRdThe computer output form the regression analysis is: 
Based on the info above, the value of R2 tells us that
A. 90.23% of the total variation in ln W is explained by the regression equation. B. 0.9023% of the total variation in P, W, and R is explained by the regression equation. C. 0.9023% of the total variation in ln W is explained by the regression equation. D. 0.9023% of the total variation in ln P, ln Q, and ln R is explained by the regression equation.