Capital per person k is higher in Japan than in the United States. As a result ________
A) per capita income is higher in Japan
B) total factor productivity is higher in Japan
C) the marginal product of capital is higher in Japan
D) all of the above
E) none of the above
E
You might also like to view...
In the pivotal Supreme Court decision Munn v Illinois (1877), the court held that
(a) natural monopolies were subject to government regulation. (b) business in interstate commerce was subject to regulation. (c) any business, whether or not a natural monopoly, or whether or not it was in interstate commerce, may under certain circumstances be subject to regulation. (d) only businesses chartered (licensed) by governments could be subjected to government regulation.
If the opportunity cost of producing a good domestically exceeds the opportunity cost of purchasing it on the world market, a country can gain by
A. decreasing production and increasing exports. B. increasing production and decreasing exports. C. increasing production and decreasing imports. D. decreasing production and increasing imports.