From 1995 to 2008, the growth rate of capital per unit of labor was high, which caused
A. labor productivity growth to be much higher than total factor productivity growth.
B. high inflation rates.
C. wages to grow faster than before.
D. labor productivity growth to be much smaller than total factor productivity growth.
Answer: A
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If a bottle of fine French wine costs US$250 in the U.S., 2500 rand in South Africa, there are no transaction costs, and the exchange rate is 20 rand/US$, then
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