Country A experienced a growth rate of real GDP per person of 0.5 percent per year throughout the 1900's. In view of other countries' experiences, country A's growth was
a. exceptionally high.
b. moderately high.
c. moderately low.
d. exceptionally low.
d
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Rank the following goods from least to most elastic: Christian books, religious books, the Bible
A) Christian books, religious books, the Bible B) Religious books, Christian books, the Bible C) The Bible, Christian books, religious books D) The Bible, religious books, Christian books E) None of the above.
Describe the supply curve in a monopoly market
What will be an ideal response?
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
A decrease in household income for a good that is considered normal would
A. cause a movement along the demand curve to a (higher price, lower quantity) point. B. move its demand curve to the left. C. cause a movement along the demand curve to a (lower price, higher quantity) point. D. move its demand curve to the right.