It has been suggested by some economists that rent seeking activity often occurs within families, particularly when an inheritance is involved
Indicate whether the statement is true or false
True
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Tests, using Leontief's methodology, to explain trade patterns of other countries
A) show that the Leontief Paradox holds only for the United States. B) show that paradoxical results obtain for some countries but not for others. C) show that the Leontief paradox holds in every case. D) have never been performed.
A labor market is divided into two segments. All workers have the same qualifications and find jobs in either segment equally attractive. Initially, both segments are in competitive equilibrium. Then the development of worker prejudice that reduces the hiring of minorities in one segment can lead to a
a. permanent increase in labor supply in the discriminating segment b. permanent increase in labor supply in the nondiscriminating sector c. temporary change in the composition of labor in both segments which will revert back to an equal distribution of workers eventually d. temporary increase in labor supply in both segments e. temporary change in wage rates in both segments
Teenage unemployment rates have consistently been much higher than the overall unemployment rate and black teenagers have fared worse than white teenagers
a. True b. False Indicate whether the statement is true or false
If a country grows at an average rate of 3.5 % per year over a ten year period, then its compounded growth rate over that period is roughly:
A. 41.0%. B. 32.7 %. C. 45.0 %. D. 35.0%.