Which of the following is true?
A) The Rule of 70 says that the number of years necessary for a nation to double its output is approximately equal to the nation's growth rate divided by 70.
B) Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita.
C) An increase in labor input necessarily increases output per capita.
D) Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base.
E) None of the above is true.
Correct Answer:
Verified
Q41: Which of the following factors contribute to
Q47: The faster the rate of technological progress:
A)the
Q51: Which of the following is a new
Q52: If there was an increase in technology,
Q53: One of the most important determinants of
Q54: As more capital per worker is added,
Q57: New growth theorists believe that increased economic
Q76: The per-worker production function is _ sloped
Q77: Technology can enable producers to economize on:
A)labor
B)capital
C)land
D)any
Q117: Which of the following will not increase
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents