The substantially larger real GDP per worker in the United States than in Europe is explained by
A. greater production per hour.
B. better U.S. technology.
C. longer work hours.
D. all of the above.
E. none of the above.
Answer: D. all of the above.
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Which of the following is true of a typical firm in a monopolistically competitive industry?
A) All firms have identical cost structures. B) Product differentiation allows a successful firm to emerge as a market leader in the industry. C) Each firm acts independently. D) The more successful firms have an incentive to merge in order to exert greater market power.
The belief that the U.S price level will rise in the future will tend to cause, other things the same ________
A) no change in the value of the U.S. dollar B) an increase in the value of the U.S. dollar C) no change in the value of the U.S. dollar in the short-run D) a decrease in the value of the U.S. dollar
Which were among the important reforms of the banking system that resulted from the financial crisis of the 1920 and 1930s?
a. the Glass-Steagall Act b. the prohibition of interest payments on bank deposits c. the separation of commercial banking from investment banking d. All of the above are correct. e. Only a and c are correct.
Which of the following is an example of a financial market?
A. A bank that only accepts deposits and issues loans. B. An electronic network used for buying and selling textbooks. C. A local coffeehouse where people regularly buy and sell financial instruments. D. A central bank used for raising taxes and borrowing on behalf of the government.