What does Simon Kuznet's (1958) study on the U.S. economy show?
(a) Short swings in the U.S. business cycles but steady, stable growth in
Real Gross Domestic Product
(b) Immigrants to the U.S. were attracted by the secular increases in U.S. real wages
and incomes
(c) A decrease, not increase, in net U.S. migration from 1860 to 1910
(d) No movement in capital, only humans, across the Atlantic economy
from 1860 to 1910
(b)
You might also like to view...
In the figure above, if the price is $8 a unit, is there a shortage or surplus and what is the amount of any shortage or surplus? What is the equilibrium price and quantity?
What will be an ideal response?
Ronald Coase stressed the necessity of using taxes to internalize negative externalities.
Answer the following statement true (T) or false (F)
Disinflation is
A. the same as hyperinflation. B. a substantial reduction in the rate of inflation. C. a negative inflation rate. D. a sudden change in the normal behavior of inflation, unrelated to the nation's output gap.
Risk management in command economies:
A. is easy because there is no risk. B. is easy because the government controls most activity and can eliminate risk. C. tends to be done poorly because government officials do not understand risk. D. tends to be done poorly because decision makers are insulated from the risk of making a poor decision.