The substantially larger real GDP per worker in the United States than in Europe is explained by
A. greater production per hour.
B. better U.S. technology.
C. longer work hours.
D. all of the above.
E. none of the above.
Answer: D. all of the above.
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The ________ the expected profit, the greater is the ________
A) lower; investment demand B) higher; investment demand C) lower; capital stock D) None of the above answers is correct
Suppose there are two countries that are identical in every way with the following exception. Country A is pursuing a fixed exchange rate regime and country B is pursuing a flexible exchange rate regime. Suppose taxes are increased in both countries rises by the same amount. Given this information, we know that
A) the change in output in A will be greater than in B. B) the change in output in B will be greater than in A. C) the change in output will be the same in both countries. D) the relative output effects are ambiguous.