For economic growth to increase living standards:
A) society must discover ways of using available resources more efficiently.
B) the rate of growth of real GDP must exceed the rate of population increase.
C) society must acquire more resources.
D) the choices available to consumers must increase.
Correct Answer:
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Q1: In the Solow Model, the long run
Q3: If total output grows at 4 percent
Q4: Because of the principle of diminishing returns,
Q5: Net investment is defined as
A) the total
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Q7: Which of the following will not lead
Q8: Recall Application 7, "Lack of Property Rights
Q9: Recall Application 1 , "Global Warming, Rich
Q10: Developing countries can benefit from the vast
Q11: If gross investment is 500 and depreciation
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