The reason why the differences in the growth stories of North Korea and South Korea can be viewed approximately as a natural experiment or an experiment of history is that:
A) institutions in both countries was changing radically, while geography and culture remained largely unchanged.
B) culture in both countries was changing radically, while geography and institutions remained largely unchanged.
C) geography in both countries was changing radically, while culture and institutions remained largely unchanged.
D) institutions, geography, and culture in both countries were changing radically.
A
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Compared to a sampling of other developed nations, the U.S. income distribution is more unequal than many others. What accounts for this?
A) The lowest-income families in the United States earn much less than the lowest-income households in other nations. B) Marginal income tax rates are much higher in the United States than in any other nation. C) The highest-income families in the United States earn much more than the highest-income households in other nations. D) Other nations manipulate their data to look better.
When the relationship shown in the Phillips curve is put into the aggregate demand curve, the horizontal portion of the aggregate demand curve disappears
Indicate whether the statement is true or false
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Which of the following products would most likely be produced in a monopolistically competitive market?
A) corn B) crude oil C) local water supply D) pizza