Other things equal, one would expect capital to flow from rich to poor countries because of

Group of answer choices

the law of diminishing returns

high immigration rates

restrictions on exports

open borders

According to the growth theory of Paul Romer as presented in this course, long-run economic growth is the result of

Group of answer choices

Many people generating many new ideas

Lower population growth

Intellectual property rights

Malthusian economics

Investment, in economics, refers to

Group of answer choices

Spending on goods that are used to produce other goods. Examples would include computers and heavy machinery.

spending on stocks and bonds. Examples would include APPL and the 10-year Treasury bond.

Spending on foreign goods. Examples would include toys and televisions made in China.

All of these are examples of what economists refer to as investment.

According to the "sticky wage" theory

Group of answer choices

Inflation causes real wages to fall for a time

A minimum wage is needed to prevent wages from "sticking" to a price floor

Employers prefer to increase capital input rather than labor input

Prices of most goods and services "stick" to the price of wages