Since the 1980s, China's output per person has increased tremendously. Which of these possible contributors to economic growth in China is a good example of a positive supply shock?
A) high levels of saving and investment
B) declining rate of population growth
C) rising consumption of energy
D) all of the above
E) none of the above
E
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Refer to the scenario above. The hypothesis of the model is that:
A) college graduates will earn 80 percent more than high school graduates. B) college graduates will earn 200 percent more than high school graduates. C) college graduates will earn 107 percent more than high school graduates. D) college graduates will earn 275 percent more than high school graduates.
A cost that involves spending money is
A) an explicit cost. B) an implicit cost. C) an opportunity cost. D) an indirect cost.
What problems remain in advanced countries after the crisis?
What will be an ideal response?
Human capital is
A. the mental or physical skills people have. B. the money people have. C. the property people own. D. the machines people own.