The United States has a larger real GDP than China because
A. The U.S. population is larger but works in capital-intensive jobs.
B. The U.S. population is smaller but works in capital-intensive jobs.
C. The U.S. population is larger but works in labor-intensive jobs.
D. The U.S. population is smaller but works in labor-intensive jobs.
Answer: B
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Suppose each of the following is a highly-paid seller of services. Who provides a productive service?
A) Dionne, the astrologer B) Jerry, the comedian C) Roger, the movie critic D) Joe, the vice president E) All of the above.
The referendum version of the median voter model concludes that _____
a. by decreasing output slowly, the median voter will adjust her preferences to those of the ballot organizer b. by increasing output slowly, the median voter will adjust her preferences to those of the ballot organizer c. the outcome preferred by the median voter will be chosen by unanimity d. the outcome preferred by the median voter will be chosen by majority rule
The demand for foreign currency in the United States is a
A) direct demand. B) derived demand based on the demand for U.S. products. C) derived demand based on the demand for foreign products. D) direct demand based on the demand for U.S. dollars.
Explain and show graphically how a decrease in household saving affects the equilibrium interest rate and the equilibrium quantity of loanable funds
What will be an ideal response?