Suppose there are two countries that are identical in every way with the following exception: Country A has a higher saving rate than country B. Given this information, we know with certainty that
A) the growth rate will be higher in A than in B.
B) the growth rate will be the same in the two countries.
C) the level of consumption per worker will be higher in A.
D) the level of consumption per worker will be higher in B.
B
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A major side-effect of a stimulative fiscal policy is that it will
A) discriminate in favor of housing. B) crowd out private expenditures. C) increase the natural rate of unemployment. D) permanently raise the rate of inflation.
If ________, then a profit-maximizing, monopolistically competitive firm earns negative economic profits.
A. P < ATC B. P = ATC C. P > ATC D. All of the above are possible.
___________: is the difference between the current market value of a building (or improvement) and the total cost to construct it new. This difference generally increases with building age.
Fill in the blank(s) with the appropriate word(s).
In 2001 the U.S. Congress did all of the following except
A. Reduce acreage set-asides. B. Increase loan deficiency payments. C. Increase existing subsidies paid to farmers. D. Create new subsidy programs.