The expenditure approach to GDP accounting includes:

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.

The age-earning cycle usually begins

A) at relatively high income levels. B) at relatively low income levels. C) once a worker reaches 25 years of age. D) only when a worker is employed full time.