This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The Keynesian short-run aggregate supply (SRAS) curve A) shows that real Gross Domestic Product ... (Read 39 times)

Yi-Chen

  • Hero Member
  • *****
  • Posts: 550
on: Jun 30, 2018
The Keynesian short-run aggregate supply (SRAS) curve
 
  A) shows that real Gross Domestic Product (GDP) will increase only if the price level increases.
  B) is horizontal.
  C) assumes a full-employment level of real Gross Domestic Product (GDP).
  D) does not reflect any changes in nominal Gross Domestic Product (GDP).

Question 2

Explain Paul Romer's ideas concerning economic growth.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joanwhite

  • Sr. Member
  • ****
  • Posts: 308
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

Romer argues that knowledge is a factor of production just as capital and labor are. Economies must invest in education as they do in capital. Past investments in capital make it profitable to acquire more knowledge, implying that investment leads to new knowledge that leads to new investment. There can be an investment-knowledge cycle that continually stimulates economic growth. According to Romer, ideas drive economic growth.


Yi-Chen

  • Member
  • Posts: 550
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

cpetit11

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

This red-bellied lemur shows clearly the traits that characterize strepsirhine primates. This red-bellied lemur shows clearly the traits that characterize strepsirhine primates.
Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
In The Gross Clinic (1875), by Thomas Eakins, Professor Samuel Gross’s team of surgeons cuts through In The Gross Clinic (1875), by Thomas Eakins, Professor Samuel Gross’s team of surgeons cuts through
Graph shows the living arrangements of Canadian seniors Graph shows the living arrangements of Canadian seniors
Use the product rule to find derivative Use the product rule to find derivative
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Acid-base imbalances - compensation of respiratory acidosis and alkalosis

For a complete list of videos, visit our video library