In 1971 President Nixon said the era of big government is over showing the dominance of the Classical perspective. True/False
In the Production Possibilities Frontier (PPF) model we assume technology does not change as an economy moves along a particular PPF; so there is no learning by doing which would lower cost of production as more of a good is produced. True/False
Investment is a stock variable, since at any one point in time there is a fixed amount. True/False