Which of the following is an explanation for why some poor countries suffer from lower productivity growth?
A. Too much saving has led to the accumulation of capital in poor countries.
B. The adoption of technology too quickly hurts the labor force in poor countries.
C. Primary education is universal in poor countries.
D. Poor countries have lower capital stocks.
Answer: D
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What happened to real interest rates during the early 1930s?
A) They declined as nominal interest rates declined. B) They rose as nominal interest rates rise. C) They declined due to deflation. D) They rose due to deflation.
Assume that you have used the OLS estimator in the cointegrating regression and test the residual for a unit root using an ADF test. The resulting ADF test statistic has a
A) normal distribution in large samples. B) non-normal distribution which requires ADF critical values for inference. C) non-normal distribution which requires EG-ADF critical values for inference. D) normal distribution when HAC standard errors are used.
Since the future holds more uncertainty over longer periods of time, lenders generally want a:
A. higher interest rate for loans over a longer period. B. lower interest rate for loans over a longer period. C. higher interest rate for loans over a shorter period. D. constant interest rate for loans over the period of the loan.
Which of the following would most likely cause a job to command a compensating wage differential?
a. There are barriers to the entry of new workers into the job market. b. The job is more dangerous than most other occupations. c. Wage rigidity prevents the wage rate from falling to the equilibrium level. d. There has been an increase in the price of another input that is substitutable for labor. e. The job market is dominated by one large firm.