On average over the last century, the U.S. population has grown three times as fast as the U.S. real GDP.
Answer the following statement true (T) or false (F)
False
On average over the last century, the U.S. real GDP has grown three times as fast as the U.S. population.
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Eli is headed to his job harvesting grapes at a local vineyard. He earns $8 every hour he works there. His friend calls him and asks him to go mountain biking for the next 2 hours instead. Eli cannot decide between the two activities. His indecision implies he values riding his mountain bike for two hours:
A. less than $16. B. more than $16. C. at no more than $8. D. at exactly $16.
Among the most important demand side factors explaining homes prices would be the size of the
A. homebuyer's car. B. metropolitan area and home itself. C. home. D. metropolitan area.
The richest 20 percent of individuals in the United States receive about ________ of the nation's total income
A) 21 percent B) 23 percent C) 91 percent D) 51 percent E) 99 percent
When the government's spending is less than tax revenue, it implies that:
a. the government budget is balanced. b. the government is running a deficit. c. there is a budget surplus. d. there is a higher chance of default by the government. e. the government needs to borrow from the central bank.