Which of the following will cause an increase in output per worker (Y/N)?
A) an increase in the capital stock (K)
B) an increase in the saving rate
C) an increase in K/N
D) all of the above
D
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Division of labor allows people to do tasks for which they have greater natural ability
a. True b. False
Subprime mortgages are mortgage loans:
A. made to borrowers with low credit scores. B. that have less than prime interest rates. C. made to borrowers with higher than average credit scores. D. made at lower than general market interest rates.
Since World War II, international exchange rates have been
a. fixed all the time. b. floating all the time. c. fixed most of the time until the early 1970's, and floating most of the time since then. d. determined by the use of exchange controls.
To totally internalize an externality, a government can levy a tax related only to the physical quantity of pollution if
A. the economic damages associated with the pollution are the same across different locations. B. the economic damages are too large to be determined. C. the economic damages are zero. D. the economic damages associated with the pollution are different across different locations.