When monopolistically competitive firms earn ________ economic profits, other firms ________ an industry in the long run.

Balanced growth paths can differ across countries due to differences in saving rates, labor force growth rates, and the rates of labor-augmenting technological change

These differences are likely to result in differences in ________, a common measure of the standard of living. A) happiness B) life expectancy C) income distribution D) real GDP per capita

An increase in unearned income always creates a disincentive to work

Indicate whether the statement is true or false