Today, unions play a larger role in Europe than they do in the U.S
a. True
b. False
Indicate whether the statement is true or false
True
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"According to the neoclassical growth theory, national incentives to save, invest, accumulate human capital, and develop new technology influence the country's growth rate of real GDP." Comment on the accuracy of the previous statement
What will be an ideal response?
If countries have similar factors of production and similar productivities, most of their trade is likely to be intraindustry
Indicate whether the statement is true or false
The growth rate of real GDP per worker results from
A) convergence to the steady state and steady-state growth. B) growth from total factor productivity minus depreciation. C) growth from labor productivity and growth from the labor force. D) growth from investment and growth from break-even investment.
The difference between the price the seller receives for a good or service and the minimum price he would be willing to accept for that unit is called: a. the total gains from trading that unit. b. the gain in producer surplus
c. the gain in consumer surplus. d. the total surplus.