Suppose an economy is initially in long-run equilibrium, and it then experiences a supply shock in the form of exceptionally high energy prices. Which of these will be true in this economy?

The industrialized group of countries has growth rates that are consistent with the findings of the economic growth model

That is, Taiwan, Korea, and Singapore had ________ incomes in 1960 than the United States and Switzerland, and Taiwan, Korea, and Singapore grew ________ than the United States and Switzerland between 1960 and 2010. A) lower; more rapidly B) greater; more rapidly C) greater; less rapidly D) lower; less rapidly

Robert Lucas, a Nobel laureate in economics, argues that there are increasing returns to

A) knowledge capital. B) human capital. C) physical capital. D) financial capital.