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 79 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

Viet Thy

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
The heme group viewed from the side. This view shows the two coordination bonds to Fe2+ The heme group viewed from the side. This view shows the two coordination bonds to Fe2+
Distribution of Aggregate Mining Distribution of Aggregate Mining
The world attempted to deal with Somalia as if it were a real country but painfully learned that Som The world attempted to deal with Somalia as if it were a real country but painfully learned that Som
Dose-response curve with threshold Dose-response curve with threshold
The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ... The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ...
Video: Chronology of leptin research (A history of leptin research)

For a complete list of videos, visit our video library