An argument against convergence is that law of diminishing marginal returns does not hold for
a. labor.
b. physical capital.
c. natural resources.
d. technological improvements.
d. technological improvements.
You might also like to view...
If a one-year bond is purchased for $700 and the interest rate is 5 percent, what will it pay in one year?
A) $35 B) $665 C) $735 D) $770
If the autarky price of S (in terms of T) were lower in country A than in country B,
A) A has a comparative advantage in S. B) B has a comparative advantage in T. C) A has a comparative disadvantage in T. D) All of the above.
We expect PPP to hold better
A) for annual data than monthly data. B) for high-inflation countries. C) in the long run. D) All of the above.
When those on the informed side of a market self-select, the problem of __________ occurs
a. natural selection b. external benefits c. adverse selection d. the winner's curse e. the common pool