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 82 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
Wow, this really help

dawsa925

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

The titration curve of acetic acid The titration curve of acetic acid
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+
This photo shows a newborn baby minutes after birth. This photo shows a newborn baby minutes after birth.
This frame from a home video shows Eric Harris (on the left) and Dylan Klebold (on the right) as ... This frame from a home video shows Eric Harris (on the left) and Dylan Klebold (on the right) as ...
The posted octane rating in most high-altitude areas shows regular at 85 instead of the usual 87. The posted octane rating in most high-altitude areas shows regular at 85 instead of the usual 87.
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: Types of antimicrobial substances (interferons & complement protein)

For a complete list of videos, visit our video library