Surplus
What will be an ideal response?
A situation in which quantity supplied is greater than quantity demanded.
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Workers in the United States are ________ workers in China because ________
A) more productive than; workers in the United States have more capital per worker. B) more productive than; there are more college-educated workers in the United States. C) less productive than; the labor force participation rate is lower in the United States. D) less productive than; there are fewer workers in the United States. E) equally as productive as; China's real GDP per person equals the U.S. real GDP per person.
Real capital income is given by ________
A) MPK × K B) capital share of income × output per unit of capital × capital C) capital share of income × output D) all of the above E) none of the above