According to the neoclassical growth model, economic growth occurs because of
a. increasing returns to scale.
b. exogenous increases in technology.
c. international trade that can increase knowledge.
d. government policy which encourages savings.
e. all of the above.
Question 2
According to the early Keynesians,
a. the money demand function was unstable; the interest elasticity of money demand was extremely high; and, as a consequence, changes in the quantity of money did not have important predictable effects on the level of economic activity.
b. the money demand function was stable; the interest elasticity of money demand was low; and, as a consequence, changes in the quantity of money did not have important predictable effects on the level of economic activity.
c. the money demand function was unstable; the interest elasticity of money demand was low; and, therefore, changes in the quantity of money did not have important effects on the level of economic activity.
d. the money demand function was stable; the interest elasticity of money demand was high; and, therefore, changes in the quantity of money did have important effects on the level of economic activity.
Old-growth redwood forest in western North America. Redwoods are the tallest trees in the world, wit
Three-Box Model
economic question
economic question (having trouble)
Economic question 5
Primary growth in a root