Which of the following is not a reason why China is unlikely to maintain high enough rates of productivity growth to catch up with the standard of living in the United States?
A) Much of China's growth is likely due to the transition from a centrally-planned economy to a market economy.
B) Because of the low birth rate in China, the labor force will soon decline.
C) The United States invests more in research and development than does China.
D) The Chinese migration of rural workers to more productive urban jobs.
D
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When a country that exported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. consumer surplus increases and total surplus increases in the market for that good. b. consumer surplus increases and total surplus decreases in the market for that good. c. consumer surplus decreases and total surplus increases in the market for that good. d. consumer surplus decreases and total surplus decreases in the market for that good.
Due to automatic stabilizers, when the nation's total income rises, government transfer spending:
A. Increases and tax revenues decrease B. Decreases and tax revenues increase C. And tax revenues decrease D. And tax revenues increase