All of the following are reasons why China is unlikely to maintain high enough rates of productivity growth to catch-up with the standard of living in the United States except
A) because of the low birth rate in China, the labor force will soon decline.
B) much of China's growth is likely due to the transition from a centrally-planned economy to a market economy.
C) the Chinese migration of rural workers to more productive urban jobs.
D) the United States invests more in research and development. than does China.
C
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The above figure shows the market for laptops. Which of the following causes a movement from B to A?
A) an increase in the number of laptop manufactures and sellers B) an increase in the price of laptops C) an increase in the productivity of the workers manufacturing laptops D) a decrease in the price of laptops E) an increase in the cost of hard drives
A country reports a potential GDP of $6 trillion, a natural unemployment rate of 4 percent and an expected inflation rate of 2 percent. Using Okun's Law, if the unemployment rate is 5 percent, what is real GDP?
What will be an ideal response?
In a franchising relationship
a. the franchisor is the local businessman or businesswoman b. the corporate brand owner contracting with local operator is the franchisor c. the local operators are the franchisors d. the corporate brand owner contracting with local operators is the franchisee
Suppose a firm manager has a base salary of $50,000 and earns 2.5 percent of all sales. Determine the manager's income if revenues are $20,000,000 and profits are $5,000,000.
A. $175,000 B. $50,000 C. $550,000 D. $700,000