Disease, poor nutrition, and substandard health care in developing nations can reduce growth in an economy by
A) reducing physical capital. B) reducing human capital.
C) increasing technological change. D) increasing labor productivity.
B
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Workers earn more than half of the income generated by the production process.
Answer the following statement true (T) or false (F)
Why should the development of a solid elementary education system take precedence over an expansion of the university system in developing countries?
What will be an ideal response?
Corporations account for a ____ proportion of the total number U.S. firms but a ____ proportion of sales by U.S. firms.
A. small; small B. small; large C. large; small D. large; large
Suppose the market demand for milk is Qd = 150 - 5P. Additionally, suppose that a dairy's variable costs are VC = 2Q2 (where Q is the number of gallons of milk produced each day), its marginal cost is MC = 4Q and there is an avoidable fixed cost of $50 per day. In the long run there is free entry into the market. Suppose the demand for milk doubles. How many new firms enter the market in the long run due to the increased demand?
A. 10 B. 20 C. 100 D. 2