The neoclassical growth theory is based on a subsistence real wage rate

The term "brain drain" refers to

A) the decreased quality of the college-educated workforce. B) highly educated individuals who leave developing countries for high-income countries. C) the negative impact on brain function of an individual's overinvestment in human capital. D) the diminishing returns to studying for an exam.

Prices direct economic activity in a market economy by

a. influencing the actions of buyers and sellers. b. reducing scarcity of the goods and services produced. c. eliminating the need for government intervention. d. allocating goods and services in the most equitable way.