Endogenous growth models
a. predict absolute convergence.
b. predict conditional convergence.
c. do not predict convergence.
d. predict convergence among rich countries but not poor countries.
C
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Which one of the following statements is false?
a. Bequest value is the value of environmental services to future generations b. Willingness-to-pay tends to be smaller than willingness-to-accept for the same service c. The production function approach to valuation considers the cost of constructing facilities to provide environmental services d. Contingent valuation can be used to estimate existence values e. The value of just knowing a wild species exists is called indirect use value
According to the classical model shown above, an autonomous decline in investment shifts the investment schedule to the left. Furthermore, the equilibrium interest rate declines. Distance A describes an interest rate induced
a. decline in saving, which is an equal increase in consumption. b. increase in investment. c. decrease in investment. d. decline in saving, which exceeds the increase in consumption.