The high correlation between rapid growth in exports and rapid economic growth observed in several East Asia countries in recent decades
A) proves that export promoting trade policy leads to relatively rapid economic growth.
B) proves that a free-trade orientation of trade policy results in rapid economic growth.
C) proves that exports help growth, whereas imports impede growth.
D) proves that trade policy is the most important policy area for promotion of economic development.
E) does not prove that trade liberalization always leads to rapid economic growth.
E
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When incorporating labor-augmenting technological change into the Solow growth model, the focus is on
A) capital per worker and output per worker. B) capital per effective worker and output per worker. C) capital per worker and output per effective worker. D) capital per effective worker and output per effective worker.
For individuals, the maximum fine for a Sherman Act violation is ________ million and the maximum prison sentence is ________ years.
A) $2; 10 B) $1; 10 C) $2; 5 D) $1; 5
Refer to Scenario 15.5. What is the total amount Catherine will lose in earnings by being a smoker, if she works now and continues until age 65?
A) $1500 B) $67,500 C) $90,000 D) $97,500 E) $120,000
A shift in short-run aggregate supply from SRAS2 to SRAS1 could have been the result of
A. a decrease in the price level. B. an increase in the price level. C. an increase in wage rates. D. a decrease in wage rates.