Small differences in growth rates eventually produce large differences in living standards because of:
A) diminishing marginal productivity.
B) increasing returns to scale.
C) decreasing returns to scale.
D) the effects of compounding.
Correct Answer:
Verified
Q2: Measuring a nation's gross domestic product over
Q3: Real GDP per capita estimates are used
Q4: Between 1950 and 2004, the average annual
Q5: From the list below the best measure
Q6: Economic growth:
A) does not affect living standards.
B)
Q8: Growth of per capita output occurs when:
A)
Q9: With the economy at potential output, economic
Q10: Which of the following statements is false?
A)
Q11: Growth accounting attempts to measure the factors
Q12: The factors of production are:
A) land, labour,
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