How can economic growth help a country combat "brain drain"?
A) Economic growth combined with decreasing returns to human capital require workers to achieve steadily higher and higher levels of education over time.
B) Economic growth opens up opportunities for better jobs and higher incomes for skilled workers.
C) Economic growth allows highly skilled persons to earn more in a foreign country than in their native country.
D) Economic growth increases the incomes of low-skilled workers relative to high-skilled workers.
B
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FDI stands for:
A. foreign direct investment. B. foreign domestic income. C. foreign direct income. D. foreign domestic investment.
A reduction in the tax rate on income from saving would
a. most directly benefit the poor in the short run. b. increase real wages over time. c. decrease the capital stock over time. d. decrease productivity over time.
Figure 9-4
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In Figure 9-4, which expenditure level will cause an inflationary gap?
A. 1 B. 2 C. 3 D. There will be no inflationary gap.
Sources of market failure include
A. competitive behavior. B. unequal income distribution. C. externalities. D. private goods.