Which of the following would be most likely to cause the per capita income of less-developed countries to rise?
a. development of strong labor unions
b. more rapid population growth
c. investment expenditures that enhance the human capital of labor force participants
d. an international minimum wage law
C
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At age 40, Joe is considering quitting his job and going back for a college degree. He needs two more years full-time. Tuition is $10,000 per year. He earns $30,000 per year. A college degree would raise his annual income by $10,000 per year
He will retire at age 70. Which of the following makes it more likely that Joe will decide to go back to college full-time? A) The rate of interest increases. B) The rate of interest decreases. C) The government enacts mandatory retirement at age 60. D) Tuition increases.
Denmark's gross national product in 2003measures the market value of
a. all final goods and services produced in Denmark in 2003 b. all goods and services produced in Denmark in 2003 c. all final goods and services produced in 2003 by Danes regardless of where they're located d. all goods and services produced by Danes in Denmark in 2003 e. all final goods and services by Danes in Denmark in 2003
When oligopolists join together in a cartel, they
A. have chosen to ignore interdependence. B. have admitted that their behavior is interdependent. C. are planning to violate the law of supply and demand. D. are trying to behave like perfect competitors.
Which of the following does not directly affect the optimal stock of capital?
a) the price of output b) the marginal product of labor c) the depreciation rate d) the risk premium e) taxes