Which of the following factors contributes most to the high per-capita incomes in developed nations?
A. High rates of population growth
B. High rates of economic growth
C. Low rates of investment
D. Low rates of saving
B. High rates of economic growth
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Basically the United States' high rate of population growth since the time of George Washington's presidency
A. has been a drag on the United States' rate of economic growth. B. pushed up the United States' rate of unemployment. C. created a growing problem of not enough food to feed everyone. D. provided a market for the United States' farmers and manufacturers.
If featherbedding raises the price of output produced by the union workers, it
a. increases employment at the firm and in the industry b. decreases employment at the firm and in the industry c. increases employment at the firm but may decrease it in the industry d. decreases employment at the firm and increases it in the industry e. increases employment at the firm but reduces the number of firms so that there is no net effect on industry employment
In a simplified system, a bank receiving a new deposit can extend new loans equal to the amount by which its excess reserves increase
a. True b. False Indicate whether the statement is true or false
The IRS receives approximately
a. 80 percent of the taxes owed b. 50 percent of the taxes owed c. 40 percent of the taxes owed d. 20 percent of the taxes owed e. 10 percent of the taxes owed