Multiple Choice
The gap in potential GDP in the United States versus Europe can be explained by
A) the fact that U.S.labor is more productive than European labor.
B) prices are higher in the United States.
C) the Okun Gap is larger in the United States.
D) the fact that income taxes are higher in the United States.
E) equilibrium employment is higher in Europe.
Correct Answer:
Verified
Related Questions
Q26: The idea of "diminishing returns" means that
Q35: According to the production function,as the quantity