Which of the following is important if a country is going to achieve and sustain high rates of economic growth?
a. investment in physical and human capital
b. improvements in technology
c. institutional and policy arrangements consistent with economic efficiency
d. All of the above.
D
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One factor that contributed to the growth in the share of population employed in the United States between 1960 and 2010 was increased:
A. male labor force participation. B. female labor force participation. C. minimum wages. D. labor union participation.
All of the following are characteristics of monopolistic competition EXCEPT
A) a few firms dominate the industry. B) product differentiation. C) many firms in the industry. D) advertising.
If workers enroll in a savings plan and are asked to check a box to opt out of it, we are seeing an example of a nudge involving the:
A. incentive compatibility problem. B. enlightened option. C. default option. D. information option.
The demand for an input used in a fixed proportions technology
A) is identical to the demand for the other inputs. B) is greater than the demand for the end product itself. C) lies below the demand for the end product itself. D) is the same as the demand for the end product itself.