Which of the following statements is most accurate about the prospects for poorer ("follower") countries catching up with richer ("leader") countries?
A. Catching up is unlikely to occur because their growth rates are the same on average.
B. Catching up is unlikely to occur because richer countries tend to grow at a faster rate.
C. Catching up is possible, but only if growth rates in leader countries fall to zero or become
negative.
D. Catching up is possible as "follower countries" tend to grow faster than "leader countries."
D. Catching up is possible as "follower countries" tend to grow faster than "leader countries."
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The table above shows the marginal costs and marginal benefits of college education. With public provision of the efficient amount of college education, the cost paid by the taxpayers is
A) zero. B) $8,000 per student. C) $4,000 per student. D) $12,000 per student.
Refer to Figure 3-4. At a price of $25, how many units will be sold?
A) 400 B) 500 C) 600 D) 800
In the simple Keynesian framework, declines in planned investment spending that produce high unemployment can be offset by raising
A) taxes. B) government spending. C) consumer confidence. D) business confidence.
Pension plans in which employer contributions are set by the plan and benefits depend on the performance of the assets in the plan is called a
A) defined benefit plan. B) defined contribution plan. C) a fully vested plan. D) an unfunded plan.