The business cycle component of the log of real per-capita GNP is equal to
A) log of actual real GNP - log of trend GNP.
B) log of trend GNP ÷ log of actual real GNP.
C) log of trend GNP - log of actual real GNP.
D) log of actual real GNP ÷ log of trend GNP.
A
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Consider the following:
(i) Suppose a competitive industry has some factor of production whose supply is perfectly inelastic. As the demand for the industry's product rises and falls, what happens to the factor's employment and its rent? (ii) Repeat part i for the case where factor supply is perfectly elastic.
If many people were to suddenly deposit into their checking accounts large sums of cash previously held in their homes and/or wallets, and there were no offsetting actions by the Fed or change in institutional policies, this would
a. decrease the M1 money supply but increase the M2 money supply. b. increase the excess reserves of banks and expand the money supply if these reserves are used to make additional loans. c. reduce the excess reserves of banks and indirectly decrease the M1 money supply. d. reduce the excess reserves of banks and indirectly increase the M1 money supply.
Countries with more economic freedom during 1980-2009 tended to do which of the following?
What will be an ideal response?
The more human capital you have, the more likely you will:
A. be unemployable. B. not benefit from specializing. C. earn more money. D. All of these are true.