The growth path resulting from technological progress for a given saving rate is known as the ?

A. Steady state growth path
B. Steady state invention rate
C. Steady state level of output
UnsTeady state growth path

The belief that the rate of growth depends upon technological progress facilitated by institutions incentives and government is known as ________ growth theory?

A. Endogenous
B. Exogenous
C. Beta
D. Convergence

A combined measure of productivity that takes account of both labor and capital productivity is known as ?

A. Total exploitation
B. Labour/capital productivity
C. Total factor productivity
D. Total productivity

The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the ?

A. Sun spot theory
B. Multiplier accelerator model
C. Solow theory
D. New classical theory

Real business cycle theory suggests that ____ not important in explaining short-term fluctuations around actual output ?

A. Aggregate supply is
B. Aggregate demand is
C. Potential output is
D. Real variables are

Real business cycles are cycles in ?

A. Potential output
B. Actual output
C. Real output
D. International trade

The business cycle is not transmitted from one country to another through ?

A. Private sector imports and exports
B. Economic policy
C. The duration of compulsory education
D. Labor supply changes

Real business cycle theorists argue that _________ can explain short- and long-term fluctuation in output?

A. Imperfect labor markets
B. Rational expectations
C. Intertertemporal decisions of households, firms and government
D. Sun spot cycles

The idea of convergence of GDP in Europe suggests that ?

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.

In the neoclassical theory of growth a higher saving rate leads to ?

A. A higher growth rates
B. A fluctuating growth rate
C. A fluctuating growth rates
D. No change in the growth rate