What determines the rate of growth in total factor productivity?
Answer to relevant QuestionsDefine demand-side and supply-side policies. Sometimes it is said that Keynesians advocate demand-side policies and monetarists advocate supply-side policies. Is there any accuracy in this statement?In what ways can interventionist industrial policy work with the market, rather than against it? What are the arguments for and against such policy?What factors will determine whether a country’s joining a customs union will lead to trade creation or trade diversion?If speculators had better information about future exchange rates, would their actions be more or less stabilizing than at present?Compare the relative merits of using GNY statistics with those of various basic needs indicators when assessing both the level and the rate of a country’s economic development.
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