A. Steady state growth path
B. Steady state invention rate
C. Steady state level of output
Unsteady state growth path
A. economic growth is Zero
B. All investment is used in the manufacturing sector
C. Economic growth is growing
D. All investment is used to maintain the existing capital stock at its current level
The long run equilibrium level of national income is the level at which ? Read More »
Economics Mcqs, Long Term Economic Growth A. increase government spending
B. reduce taxation
C. save more
D. increase personal consumption
The best way to achieve economic growth is to ? Read More »
Economics Mcqs, Long Term Economic Growth A. All countries will eventually join the EEC
B. Poorer countries have higher capital/labour ratios than richer countries.
C. The gap between countries GDP per head will widen
D. Poorer less developed countries will catch up with richer ones.
The idea of convergence of GDP in Europe suggests that ? Read More »
Economics Mcqs, Long Term Economic Growth A. imperfect labor markets
B. rational expectations
C. intertertemporal decisions of households, firms and government
D. sun spot cycles
A. private sector imports and exports
B. economic policy
C. the duration of compulsory education
D. labor supply changes
The business cycle is not transmitted from one country to another through ? Read More »
Economics Mcqs, Long Term Economic Growth A. potential output
B. actual output
C. real output
D. international trade
Real business cycles are cycles in ? Read More »
Economics Mcqs, Long Term Economic Growth A. aggregate supply is
B. aggregate demand is
C. potential output is
D. real variables are
A. sun spot theory
B. multiplier accelerator model
C. Solow theory
D. New classical theory
A. capital-widening technical innovation
B. capital-widening Catch-up in technology
C. capital-deepening technical innovation
D. capital-deepening, catch-up in technology
