How has economist Robert Fogel explained that economic growth is connected to life expectancy? Based on this connection, in what country would you expect to have a longer life expectancy, the United States or India? Explain
What will be an ideal response?
According to Robert Fogel's research, countries with the lowest levels of GDP per capita also have the shortest life expectancies. Technological advances in medicine, agriculture, and water purification improve nutrition and increase incomes. Since economic growth in the United States has historically been greater than that in India, we would expect U.S. residents to have a longer life expectancy than residents of India. However, as India's economy begins to grow more dramatically, life expectancy in India is rapidly approaching that of the United States.
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Arbitrage is the process by which investors simultaneously sell:
A. assets with higher rates of return and buy otherwise identical assets with lower rates of return. B. assets with lower rates of return and buy otherwise identical assets with higher rates of return. C. riskier assets and buy less risky assets. D. less risky assets and buy riskier assets.
When there is a recessionary gap, capital and labor resources are:
A. decreasing in number. B. not being fully utilized. C. producing beyond their capacity. D. misallocated.