Which of the following is an explanation for why some poor countries suffer from lower productivity growth?
a. Too much saving has lead to the accumulation of capital in poor countries.
b. The adoption of technology too quickly hurts the labor force in poor countries.
c. Primary education is universal in poor countries.
d. Poor countries have lower capital stocks.
d
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Which of the following statements explains the difference between diminishing returns and diseconomies of scale?
A) Diminishing returns apply only to the short run; diseconomies of scale apply only in the long run. B) Diminishing returns cause a firm's marginal cost curve to rise; diseconomies of scale cause a firm's marginal cost curve to fall. C) Diminishing returns are the result of changes in explicit costs. Diseconomies of scale are the result of changes in explicit costs and implicit costs. D) Diminishing returns refer to production while diseconomies of scale refer to costs.
The Department of Transportation certifies motorcycle helmets, and all helmets certified carry a "DOT" logo. This is an example of
A) government overreach. B) screening. C) signalling using established standards. D) licensing to restrict entry by helmet manufacturers.
Why does the elasticity of demand for a commodity change over time?
What cause Production possibilities curve to shift?
What will be an ideal response?