To move up the income ladder and achieve high-income status, countries must
What will be an ideal response?
have sustained economic growth
Economics
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Ultimately, the source of growth in real wages is the growth in labor productivity
a. True b. False Indicate whether the statement is true or false
Economics
How does the form that government spending takes affect resource allocation between public goods and private goods?
Economics
When a firm's long-run average total costs do not vary as output increases, the firm exhibits
a. economies of scale. b. constant returns to scale. c. diseconomies of scale. d. an efficient use of resources.
Economics
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.
Economics