If an economy is growing at 2 percent a year but its rate of technology growth is 1 percent a year, then this country must be:
a. below its steady state level of capital per worker.
b. expected to grow slower in the future.
c. has a savings rate that is too low.
d. none of the above.
B
Economics
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If the prices of goods and services were expressed in terms of coconuts, then coconuts would be serving as a
A) medium of exchange. B) store of value. C) standard of value. D) fiat money.
Economics
Contractionary monetary policy causes a ________ the MP curve and a ________ the aggregate demand curve
A) movement to the right along; shift to the right of B) downward shift of; shift to the right of C) movement to the left along; movement up along D) upward shift of; shift to the left of
Economics