Labor productivity in the United States was 5.4 times higher in the United States than in China in 2010. A key reason that labor productivity is higher in the United States is because the United States
A) has a higher growth rate, based on GDP per capita, than China.
B) has a higher life expectancy and higher birth rate than China.
C) devotes more resources than China to developing new technology and accumulating human capital.
D) devotes more resources than China to developing export markets to boost its real GDP and income.
C
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The government's main statistic for forecasting business cycles is the index of coincident indicators
a. True b. False Indicate whether the statement is true or false
If you were a Keynesian economist, you would
a. believe that saving is always detrimental to our economic health b. believe that increased saving always leads to lower national income0 c. believe that increased investment is undesirable d. see economic trouble ahead if saving increases unattended by a complementary increase in intended investment e. actively try to achieve the paradox of thrift for our national economy
To the extent that brand names developed in monopolistic competition provide a benefit to the consumer, it is:
a. by allowing for a lower total cost. b. through their assurance that the firm will provide a quality product in order to preserve repeated transactions. c. by encouraging the entry of new competitors. d. by allowing the firm to engage in price discrimination.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary