According to new growth theory ________

A) ever-advancing productivity keeps the population growth rate high
B) knowledge does not experience diminishing returns
C) growth rates and income levels per person around the globe will converge
D) knowledge is subject to the law of diminishing returns

B

Economics

You might also like to view...

If an economist recommends that the government reduce the tax rate in order to increase tax revenues (based on the Laffer curve), she is implicitly assuming that the economy is currently operating at a point

A) inside the Laffer curve. B) outside the Laffer curve. C) on the upward-sloping portion of the Laffer curve. D) on the downward-sloping portion of the Laffer curve. E) where tax revenues are maximized.

Economics

Since 1975 the distribution of income has:

A. remained virtually constant from year to year. B. become more equal. C. varied considerably from year to year but in general has been stable. D. become less equal.

Economics