________ is the knowledge and skill that people have obtained from education and on-the-job training
A) Labor productivity
B) Human capital
C) Capital
D) Technology
B
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Real business cycle theory would emphasize the ability of a beneficial supply shock to shift the __________ curve rightward and __________ Real GDP
A) AD; lower B) AD; raise C) LRAS; lower D) LRAS; raise
An empirical analysis relies on _____ to test a theory.
A. common sense B. ethical considerations C. data D. customs and conventions
A differentiated product is one that:
a. is slightly different from the competitor's product, although it is a close substitute. b. is very different. c. is traded within firms and is not for sale in retail markets. d. has a shelf life of less than a year.
Describe several components of the institutional environment in the high-growth Asian economies that are critical to their success
What will be an ideal response?