Robert Fogel is an economic historian best known for work suggesting that a significant factor in long-run economic growth is: Inward-oriented policies that protect domestic firms from foreign competition Improvements in the protection of property and enforcement of contracts through the maturation of the civil and criminal justice systems Improvements in technology from the incentives created by a better patent system Improvements in worker health from hetter nutrition

The two major problems facing the economic development of every country are a high unemployment rate and a significant rise in inflation for a prolonged period of time. Based on the above, examine the following two expressions and analyze them: One of the benefits of unemployment is that it allows for higher quality job search and promotes economic efficiency, but it increases the unemployment rate and creates economic recession. Unanticipated high inflation redistributes society's income, diminishes the ability to make long-term plans, and forces individuals, governments, and businesses to carefully evaluate the purchasing power of their assets.

Which of the following are possible outcomes of rapid population growth? A reduction in capital per worker An increase in technological knowledge A reduction in human capital per worker All of the above

Economics Suppose output per worker in the US is four times (4.0) output per worker in China. Suppose capital per worker in the US is twice that of China. You should assume that the share of capital in income is 40 percent for both countries. Total factor productivity (A) for the U.S is. A)Four times higher (4.0) than China B)U.S TFP is beľow China. C)US TFP is twice (2.0) as high. D)U.S TFP is equal to China. EJU.S TFP is 3.2 times higher than China.