Countries with large amounts of capital per worker tend to have ________ levels of real GDP per person and ________ levels of average labor productivity.
A. low; low
B. low; average
C. high; low
D. high; high
Answer: D
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In addition to being a direct application of _____, user charges are also quite ______
a. the benefit principle; inefficient b. the benefit principle; efficient c. the ability-to-pay principle; inefficient d. the ability-to-pay principle; efficient
Country A has real GDP per person of 250,000 while Country B has real GDP per person of 500,000 . All else constant, Country A will eventually have a higher standard of living than Country B if
a. the level of saving per person is 5.000 in Country A and 7,500 in Country B. b. the level of saving per person is 3,000 in Country A and 6,000 in Country B. c. Both of the above are correct. d. None of the above are correct.
In a market for money,
A. borrowers are the suppliers and lenders are the consumers. B. both borrowers and lenders are the consumers. C. both borrowers and lenders are the suppliers. D. borrowers are the consumers and lenders are the suppliers.
The above figure shows the U.S. market for 1 carat diamonds. With free trade, the price in the United States for diamonds is equal to ________ and with the quota illustrated in the figure, the price in the United States is equal to ________
A) $4,000; $2,000 B) $2,000; $3,000 C) $4,000; $3,000 D) $2,000; $2,000 E) $2,000; $4,000