If a country has a higher level of productivity than another, then it also has a higher level of real GDP
a. True
b. False
Indicate whether the statement is true or false
False
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If the overall unemployment rate is 8 percent, then the cyclical unemployment rate is _____ percent.
Fill in the blank(s) with the appropriate word(s).
In which market structure is there the greatest degree of mutual dependence between firm in choosing their price and output policies? a. perfect competition
b. monopolistic competition. c. oligopoly. d. monopoly.
The combination of high unemployment and high inflation is termed
a. reflation. b. stagflation. c. depression. d. unflation.
Answer the following statements true (T) or false (F)
1) Increases in household and business spending are a demand factor in economic growth. 2) To fully realize economic growth through the efficiency factor, an economy must increase its stock of capital goods and improve its technology. 3) If an economy is currently producing on its production possibilities curve, a rightward shift of the curve is a necessary but not sufficient condition for economic growth. 4) Economic growth can be shown as a movement from a point on one production possibilities curve to a point on a curve located farther from the origin.