When the value of the dollar changes from £0.5 to £0.75, then the British pound has ________ and the U.S. dollar has ________

According to the neoclassical growth theory

A) increases in labor productivity are only temporary. B) technological change depends on people's choices. C) forces other than GDP growth determine population growth. D) higher saving rates generate permanently faster growth in GDP per person.

In a free market system, competition generates economic efficiency only when

A) individuals take into account the full opportunity cost of their actions. B) consumers are motivated by a sense of the greater good, not their own self-interest. C) firms are motivated by a sense of the greater good, not their desire for profit. D) economic decisions are taken out the hands of individuals and placed in the hands of government officials.