How has economist Robert Fogel explained that economic growth is connected to life expectancy? Based on this connection, in what country would you expect to have a longer life expectancy, the United States or India? Explain
What will be an ideal response?
According to Robert Fogel's research, countries with the lowest levels of GDP per capita also have the shortest life expectancies. Technological advances in medicine, agriculture, and water purification improve nutrition and increase incomes. Since economic growth in the United States has historically been greater than that in India, we would expect U.S. residents to have a longer life expectancy than residents of India. However, as India's economy begins to grow more dramatically, life expectancy in India is rapidly approaching that of the United States.
You might also like to view...
Refer to the table above. When the ________ is employed, diminishing marginal returns sets in
A) second worker B) fourth worker C) sixth worker D) eighth worker
A bilateral negotiation is a bargaining mechanism in which:
A) a third party or an authority intervenes and decides the prices of the products traded in a market. B) a single seller and a single buyer confront one another with bids and asks. C) multiple buyers bargain with a single seller to determine the trading price. D) multiple sellers bargain with a single buyer to determine the trading price.
A lawn service is deciding whether to add an additional employee to its summer crew. The marginal cost of hiring this worker depends on the
A) total amount paid to only the new worker. B) total amount paid to all previously hired workers. C) the total amount paid to all the workers, both the new one and the previously hired workers. D) the additional revenue created by having an additional worker minus the cost of hiring the worker.
Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown in the accompanying figure.
Both of Moe's professors require at least a 65 to pass and a 90 to earn an A. Which of the following is true?
A. Moe could earn an A in economics and still pass physics. B. Moe can pass both classes. C. Moe can pass physics, but only if he fails economics. D. Moe can pass economics, but only if he fails physics.