Which of the following is NOT a real world factual conflict with the neoclassical growth model?
A) Income per capita varies greatly across countries.
B) Poor countries do not have a higher rate of return on capital.
C) Immigrant labor from poor countries experiences very small increases in income when it moves to rich countries.
D) Poor countries' income levels have not converged to the income levels of rich countries.
C
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Refer to Scenario 25-2. As a result of Kristy's deposit, checking account deposits in the banking system as a whole (including the original deposit) could eventually increase up to a maximum of
A) $8,000. B) $10,000. C) $50,000. D) $100,000.
For what percentage of urban population growth is rural-urban migration responsible?
(a) between 35% and 60%. (b) between 40% and 80%. (c) between 50% and 70% (d) between 50% and 90%.
Even at higher levels of __________, people will still face spending trade-offs, choices, and opportunity costs.
a. savings b. supply c. income d. demand
For a normal good, an increase in consumer income will cause the market demand for the product to:
A. decrease, which is a shift to the left of the demand curve. B. decrease, which is a shift to the right of the demand curve. C. increase, which is a shift to the left of the demand curve. D. increase, which is a shift to the right of the demand curve.