Suppose a nation's population grows by 2 percent and, at the same time, its GDP grows by 5 percent. Approximately how fast will real GDP per person increase?
A) 3 percent per year
B) 2 percent per year
C) 5 percent per year
D) 10 percent per year
A
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The price of gold should be ________ to the expected inflation rate
A) positively related B) negatively related C) inversely related D) unrelated
Points outside the production possibilities frontier represent
a. unemployment of resources b. inefficient use of resources c. combinations that are attainable only if all resources are used fully and efficiently d. currently unattainable combinations of outputs e. the only currently attainable combinations from which society must choose
Companies issue stock because of all of the following except:
A. it allows the owners to raise capital without having to borrow. B. it allows the owners to share the risk of failure. C. it allows the owners to turn an illiquid asset into a liquid one. D. it allows companies to file bankruptcy.
The unemployment rate is the number of people classified as unemployed as a percentage of: a. the entire population
b. the population over the age of sixteen. c. the labor force. d. the number of people over the age of sixteen who are employed.