Which of the following is consistent with the catch-up effect?
a. The United States had a higher growth rate before 1900 than after.
b. After World War II the United States had lower growth rates than war-ravaged European countries.
c. Although the United States has a relatively high level of output per person, its growth rate is rather modest compared to some countries.
d. All of the above are correct.
d
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Negative demand shocks have a tendency to ________ real GDP relative to potential GDP and ________ the inflation rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Father-only single parent families have a poverty rate that is about equal to the national average poverty rate
Indicate whether the statement is true or false
What major historical event led to the most significant challenge to classical economic thinking?
a. The war on poverty b. The American Revolution c. World War II d. The Great Depression e. The oil shocks of the 1970s
Which of the following is a major reason for offshoring?
a. Global deregulation. b. Increased global demand for services. c. The gradual diminishing of global technological advances. d. All of the above are major reasons for offshoring.