Modern inventions, like the Internet or discoveries in genetics or materials science, seem to provide smaller gains to output than earlier inventions like the steam engine or the railroad
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Answer the following statements true (T) or false (F)
1. In recent years, immigration has contributed an insignificant amount to the U.S. population growth. 2. The main driver of economic immigration is the opportunity to improve earnings and living standards. 3. The majority of international migrants move to countries relatively close to their home countries because close proximity reduces the cost of the move relative to anticipated benefits. 4. Other things equal, larger wage differences between nations tend to increase the flow of immigration toward the country with higher wage opportunities.
The figure above shows the market for transportation services, which produces an external cost due to the air pollution that is created. Suppose that the government decides to introduce a pollution tax
What is the tax per vehicle mile that will achieve the efficient outcome? A) $2 B) $4 C) $6 D) $8
Zach Greinke's marginal product as a baseball player would be about the same as a Los Angeles Dodger and a Kansas City Royal. Why were the Dodgers willing to pay Greinke a higher salary than he was paid as a Royal?
A) The Dodgers needed a superstar to attract fans to their games. The Royals had no need to attract fans to their games. B) The owner of the Dodgers was under more pressure from the fans and the Los Angeles media to pay Greinke a higher salary than the Royals were willing to pay. C) The Dodgers play more home games than the Royals. As a result, the Dodgers earn more revenue from ticket sales that they can use to pay player salaries. D) Greinke's marginal revenue product is higher as a Dodger than it was as a Royal.
Factors increasing the U.S. labor supply and thereby contributing to the slowdown in real-wage growth that began in the 1970s include ________ and ________.
A. increased labor force participation by women; the coming-of-age of the baby-boom generation B. technological progress; diminishing returns to labor C. skill-biased technological change; globalization D. increasing wage inequality; globalization