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Author Question: According to Keynes, once a system attains an economy-wide equilibrium A) planned investment will ... (Read 44 times)

jilianpiloj

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on: Jun 30, 2018
According to Keynes, once a system attains an economy-wide equilibrium
 
  A) planned investment will be zero.
  B) there may or may not be excess productive capacity.
  C) the economy will be at full productive capacity.
  D) planned consumption will be zero.

Question 2

How does innovation differ from invention? Why is innovation required for economic growth?
 
  What will be an ideal response?


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k2629

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

Innovation involves the transformation of an invention into something that benefits the economy by lowering production costs or by providing a new good or service. It is innovation, then, that stimulates economic growth.


jilianpiloj

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

tuate

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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