Because the Soviet Union educated more scientists and engineers than the United States, their level of economic growth was higher.
Answer the following statement true (T) or false (F)
False
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In Table 10.1, what is the unemployment rate in Year 1?
A. 50 percent B. 41.7 percent C. 16.7 percent D. 8.3 percent
Which of the above schedules represent(s) a regressive tax?
a. V only b. III and V c. IV only d. I only
Which of the following is a common way of measuring the average standard of living?
a. The unemployment rate plus the inflation rate b. Real GDP divided by the price level c. The unemployment rate multiplied by the population d. Real GDP divided by the population e. Inflation rate divided by the population
Empirical tests of the HO model have had mixed results. One explanation for this is that
A) the Ricardian model is more detailed. B) it is difficult to measure factor endowments. C) it does not explain the effects of trade on income. D) it assumes that countries have different technologies.