All of the following are cited as factors in explaining U.S. competitiveness EXCEPT
A. the open U.S. financial system.
B. economic restructuring.
C. the decline of entrepreneurship.
D. investments in information technology.
Answer: C
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The marginal rate of technical substitution is equal to:
A) the absolute value of the slope of an isoquant. B) the ratio of the marginal products of the inputs. C) the ratio of the prices of the inputs. D) all of the above E) A and B only
The Earned Income Tax Credit (EITC)
A. provides more income to those people on welfare. B. is a tax on low income workers. C. provides additional tax credits to low income workers. D. is a tax break for the wealthiest Americans.
According to studies using international data, an increase in the saving rate
a. does not increase the growth rate of output. b. increases the growth rate of output for a few years. c. increases the growth rate of output for about a decade. d. increases the growth rate of output for several decades.
Refer to Table 1-2. Using marginal analysis, by how many hours should Thuy Anh extend her flower shop's hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours