Differences in size of real GDP across countries are best explained by
A. Large farming sector.
B. Population growth.
C. Human capital.
D. None of the choices are correct.
Answer: C
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Which of the following statements characterizes government transfer payment spending in the United States between 1960 and 2015?
A) Transfer payment spending by the federal government and by state and local governments has decreased as a percentage of GDP. B) Transfer payment spending by the federal government and by state and local governments has more than tripled as a percentage of GDP. C) Transfer payment spending by the federal government and by state and local governments has remained constant as a percentage of GDP. D) Transfer payment spending by the federal government and by state and local governments has fluctuated widely over this period.
In the above figure, the indifference curves indicate that the two goods are
A) perfect complements. B) perfect substitutes. C) ordinary goods. D) normal goods.
U.S. antitrust laws view monopolies as undesirable because
A) monopolies restrain trade and promote inefficiencies. B) monopolies create inferior products. C) monopolies produce only capital goods. D) monopolies produce only cheap, low quality goods.
The efficiency-wage theory of worker health is more relevant for less developed countries than rich countries
a. True b. False Indicate whether the statement is true or false