It is possible for the United States to compete against cheap foreign labor because expensive domestic workers
A) pay U.S. taxes.
B) receive subsidies.
C) are more productive.
D) belong to unions.
C
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If Korea's average annual growth rate is 9 percent and that of the United States is 4 percent, the time required for Korea's real GDP to double will be ____ less than the time required for the GDP of the United States to double
a. 3 years b. 6 years c. 12 years d. 15 years e. 10 years
Suppose the real GDP of Fatonia was $25 million in 2010 . If the population of Fatonia was 0.25 million in 2010, then Fatonia's real GDP per capita was _____ in 2010
a. $200 b. $100 c. $50 d. $150
The Kahneman-Tversky value function is
A. risk-averse in gains and losses. B. risk-neutral in gains and losses. C. risk-averse in gains, risk-seeking in losses. D. risk-seeking in gains, risk-averse in losses.
The LM curve has a
A. positive slope because a higher interest rate leads to a higher incentive to hold money and thus a higher money supply is needed for equilibrium. B. negative slope because a lower interest rate leads to an increase in the demand for bonds and thus a higher level of domestic production is needed to cause people to continue to hold the same amount of money. C. positive slope because a higher interest rate leads to a decrease in the demand for money and thus a higher level of domestic production is needed to cause people to continue to hold the same amount of money. D. negative slope because a lower interest rate leads to a decrease in foreign investments and thus a higher level of domestic production is needed for equilibrium.