The new growth theory was developed by ________ and proposes that ________.
A) Thomas Malthus; increases in population drive wages to their subsistence level
B) Ben Bernanke; changes in the money supply drive economic growth
C) Paul Romer; the desire for profits drives increases in real GDP per person
D) Adam Smith; markets will determine the appropriate economic growth rate
E) Robert Solow; increases in technology growth are responsible for economic growth
Question 2
________ shifts the consumption function upward.
A) A decrease in the marginal propensity to consume
B) An increase in the price level
C) An increase in the real interest rate
D) An increase in expected future disposable income
E) An increase in disposable income
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