Investment spending at any level of national income is the investment producers
a. actually make
b. expected to make
c. expect to make
d. make net of actual investment
e. intend to make
E
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The Chinese economic reforms of 1978 opened China to international trade and investment. These reforms gave China access to new capital and technology, which
A) allowed China to decrease its capital-labor ratio and increase labor productivity. B) increased China's total factor productivity and standard of living. C) accelerated Chinese productivity to a level where Chinese real GDP per capita is now on par with that in the United States. D) rapidly increased productivity in China and convinced Chinese officials to expand the reforms to include complete privatization of its financial system.
In the United States, labor productivity is approximately
a. $73 per hour. b. $94 per hour. c. $102 per hour. d. $110 per hour.