Which of the following is a reason for long-run potential growth of real GDP?
A) yearly growth of the labor force
B) growth of the stock of physical capital over time
C) improvements in technology over time
D) all of the above
D
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Carlos Silva, a Colombian singer, goes on tour to the United States for one month, following high American demand for his live shows. Assuming that all the show's expenses are paid by the U.S. promoters, other things equal, the U.S. tour will bring about:
a. a decreased supply of Colombian pesos in the foreign exchange market. b. an increased supply of American dollars in the foreign exchange market. c. an increased supply of Colombian pesos in the foreign exchange market. d. a decreased demand for Colombian pesos in the foreign exchange market. e. an increased demand for American dollars in the foreign exchange market.
What are the effects of migration on the real wages and output of a low-wage nation and a high-wage nation? What are the simplifications used to analyze these effects?
What will be an ideal response?