Measurements of TFP indicate that the East Asian success story is based on
A) a significantly different economic model from the one followed in the West.
B) unusually large amounts of innovation.
C) rapid increases in the education of the work force.
D) high amounts of savings and investment.
D
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Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises, and GDP Price Index falls. b. The quantity of real loanable funds per time period falls, and GDP Price Index remains the same. c. There is not enough information to determine what happens to these two macroeconomic variables. d. The quantity of real loanable funds per time period falls, and GDP Price Index rises. e. The quantity of real loanable funds per time period falls, and GDP Price Index falls.
As tax laws become more complex,
a. the administrative burden of taxes will increase. b. compliance costs are likely to decrease. c. the government will collect more in tax revenue. d. the amount of tax revenue lost to tax evasion will decrease.