According to this Application, over time, as economies adapt to higher temperatures
A) approximately half the decline in per capita income disappears.
B) per capita income does not seem to change.
C) real income begins to increase and per capita income begins to decrease.
D) approximately half the increase in per capita income disappears.
A
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According to Edward Denison, the major source of labor productivity is
a. improvements in labor quality. b. economies of scale. c. the changing composition of the labor force. d. technological progress. e. education per worker.
Which of the following is correct?
a. U.S. exports as a percentage of GDP have about tripled since 1950 . The U.S. currently has a trade deficit. b. U.S. exports as a percentage of GDP have about tripled since 1950 . The U.S. currently has a trade surplus. c. U.S. exports as a percentage of GDP have about doubled since 1950 . The U.S. currently has a trade deficit. d. U.S. exports as a percentage of GDP have about doubled since 1950 . The U.S. currently has a trade surplus.
A tax that fell very heavily on the rich and the upper middle class might shift the Lorenz curve from
A. J to K.
B. K to L.
C. L to K.
D. I to J.
Prior to October 2008, commercial banks tended to hold relatively small amounts of excess reserves because
A. the presence of such reserves tends to boost interest rates and reduce investment. B. the Fed constantly uses open market operations to eliminate excess reserves. C. the Fed did not pay interest on reserves. D. the Fed does not want commercial banks to be too liquid.