What is the significance of the term ‘endogenous’ in endogenous growth theory? What, according to this theory, determines the long-run rate of economic growth?
Answer to relevant QuestionsUnder what circumstances would a higher rate of investment lead to a higher rate of economic growth?What type of tax cuts is likely to create the greatest (a) incentives, (b) disincentives to effort?Go through each of the arguments for restricting trade (both those of general validity and those having some validity for specific countries) and provide a counterargument for not restricting trade.Why does exchange rate overshooting occur? What determines its magnitude?How are asymmetric shocks dealt with within a country? To what extent can this process be mirrored within the Eurozone?
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