For about1,000 years after the fall of the RomanEmpire, there was essentially no growth in output per person in Europeany increase in output led to
For about1,000 years after the fall of the RomanEmpire, there was essentially no growth in output per person in Europeany increase in output led to a proportional increase in population.
This type of phenomenon is referred to as the__________.
A. Keynes effect.
B.Malthusian trap.
C.Ricardo outcome.
D.liquidity trap.
Economic growth theory shows that the two main factors for an economy to grow are__________.
A.government spending and wealth redistribution.
B.technological advancement and capital accumulation.
C.population and big government.
D.government regulation and growth of the money supply.
The aggregate production function shows the relationship between output and_________.
A.government spending.
B.the inputs in production.
C.capital.
D.consumption.
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