The new growth theory argues that
What will be an ideal response?
technology must be considered a separate factor of production that is sensitive to economic incentives.
Economics
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A bank's reserve ratio is 5 percent and the bank has $1,000 in deposits. Its reserve amount to
a) $5 b) $50 c) $95 d) $950
Economics
In drilling a new oil well in an existing oil field, the fact that output on existing wells is reduced means that:
a. existing wells have negatively sloped MC curves. b. existing wells and new wells are owned by different people. c. existing wells and new wells are owned by the same people. d. there is a discrepancy between private and social marginal costs.
Economics