Black and Hispanics poverty rates in the United States are about twice as high as Asian and white poverty rates.
Answer the following statement true (T) or false (F)
True
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Differences in the stock of human capital between nations are an example of a(n):
A) proximate cause of prosperity. B) implicit cause of prosperity. C) explicit cause of prosperity. D) fundamental cause of prosperity.
The Lucas Wedge is estimated to
A) total over $406,000 per person as a result of the slowdown in the growth rate of real GDP. B) be positive in some years and negative in others. C) be about 2 percent of real GDP per year. D) be negative due to the severe recession in 2008-2009. E) have reached about $13,000 per person in the last year.
According to the law of comparative advantage, a doctor who is also a talented auto mechanic should
a. get a part-time job at a gas station. b. do her own auto repairs and those of her neighbors. c. hire a professional mechanic to repair her car. d. only repair the cars of other doctors.
Which of the following would be most likely to cause the price/earnings ratio of stocks to rise?
a. the expectation of a recession in the near future b. the expectation of inflation in the near future c. higher interest rates d. lower interest rates