Real GDP per person can increase:
A. only if the share of the population employed decreases.
B. if the share of population employed and/or average labor productivity increases.
C. only if average labor productivity increases.
D. only if the share of the population employed increases.
Answer: B
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Agricultural staples of the colonial South included:
a. rice. b. tobacco. c. indigo. d. All of the above.
In the strategic view of bargaining:
a. You want to improve your opponent's outside options b. You want to decrease your outside options c. Bargaining is of a prisoner's dilemma game d. Bargaining is of a game of 'chicken'
The real GDP data could be properly thought of as a(n)
What will be an ideal response?
Which of the following was a criterion to participate in the European Monetary Union?
A. The country's budget deficit must be less than 10 percent of the value of its gross domestic product (GDP). B. The gross government debt must be less than 100 percent of its GDP. C. The country's exchange rates must be maintained within the Exchange Rate Mechanism bands with no realignments during at least the previous ten years. D. The country's inflation rate must be less than or equal to 1.5 percentage points above the average inflation rate for the three lowest-inflation EU countries.