In a recent year GDP per capita in the United States was much higher than GDP per capital in France. Why would there be such a large difference in GDP per capital between two rich leader countries?
What will be an ideal response?
The explanation has to do with differences in the characteristics of the work force in the United States and France. U.S. workers spend substantially more time working than do French workers for two reasons. First, more of the U.S. population is employed than is the French population. Second, U.S. workers who are employed work longer hours than French workers. These two differences contribute to a sizable difference in the labor supply in the United States compared with France, and thus accounts for the sizable difference in per capital GDP in the two leader countries.
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The federal law that prohibits, among other things, conspiracies in restraint of trade, monopolization, or combinations or conspiracies to monopolize is the:
A) Sherman Act of 1890. B) Clayton Act of 1914. C) Federal Trade Commission Act of 1914. D) Celler-Kefauver Act of 1950.
The type of monetary policy regime that the Federal Reserve has followed From the 1980s up until the time Ben Bernanke became chair of the Federal Reserve in 2006 can best be described as
A) monetary targeting. B) inflation targeting. C) policy with an implicit nominal anchor. D) exchange-rate targeting.