The neoclassical model of economic growth suggests that:
A) growth rates between rich and poor countries will converge.
B) rich countries will get richer and poor countries will get poorer.
C) in equilibrium, the quantity of capital will be greater than the quantity of labour.
D) higher savings will lead to economic growth in the long run.
Correct Answer:
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Q4: The long-run aggregate supply curve implies that:
A)
Q5: For fully developed economies in Europe, the
Q6: The aggregate supply curve is _.
A) the
Q7: Economic growth is measured as the:
A) percentage
Q8: Which of the following measures the productivity
Q10: Which of the following statements is true?
A)
Q11: If the UK increases its level of
Q12: Assuming that the supply of labour is
Q13: Assuming that the economy is producing at
Q14: The long-run aggregate supply curve will shift
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