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.
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The segmented markets theory can explain
A) why yield curves usually tend to slope upward. B) why interest rates on bonds of different maturities tend to move together. C) why yield curves tend to slope upward when short-term interest rates are low and to be inverted when short-term interest rates are high. D) why yield curves have been used to forecast business cycles.
The real rate of interest
A) is equal to the nominal rate when Y equals YN. B) is equal to the nominal rate minus the rate of inflation. C) is equal to the nominal rate plus the rate of inflation. D) is never negative.
The term underground economy refers to
a. the coal-mining industry b. all ore mining c. the subway system d. purely illegal activity e. market activity not reported to the government
A nation can determine how close it is to the classical range by considering its:
a. Export position. b. Employment rate. c. Exchange rate d. None of the above.