Author Question: Which of the following distinguishes industrially advanced countries from less-developed countries? ... (Read 124 times)

laurencescou · **on:** Jun 30, 2018

Which of the following distinguishes industrially advanced countries from less-developed countries?
a. GDP per capita.
b. Educational attainment of the workforce.
c. Extent to which capital is technologically advanced.
d. All of the above.

Question 2

Using the aggregate expenditure-output model, assume the aggregate expenditures (AE) line is above the 45-degree line at full-employment GDP. This vertical distance is called a(n):
a. inflationary gap.
b. recessionary gap.
c. negative GDP gap.
d. marginal propensity to consume gap.