Because of the Choices People Make in the Pursuit of Profit

question 305

Multiple Choice

Because of the choices people make in the pursuit of profit, new growth theory argues that

• A) technology growth slows down in the long-run.
• B) population growth increases will bring real GDP per person back to subsistence level.
• C) the capital stock experiences diminishing returns.
• D) the economy can enjoy persisting economic growth.

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Definitions:

Drawer

The entity or person who writes or creates a check, thereby instructing the bank to pay the stated amount to the party named on the check.

Drawee

The party upon whom a check or draft is drawn, typically a bank, that is directed to pay a certain amount of money.

Stop-payment Order

An instruction given to a bank to stop a check or payment that hasn't been completed.

Writing

The act or process of producing and recording words in a form that can be read, understood, and preserved, often used legally to refer to the embodiment of agreements or contracts on a tangible medium.