If population growth occurs while labor force participation does NOT increase,
A. a nation's labor resources will still continue to increase in both quality and quantity.
B. per capita GDP is likely to increase sharply.
C. economic growth will still continue because any population gain is a plus.
D. there may be no increase in labor resources or economic growth.
Answer: D
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What do you think of the following statement: To the extent to which individuals are aware of their self-control problems, markets can address the issue successfully.
What will be an ideal response?
In the United States there were legal reserve requirements on time and savings deposits during most of the post-World War II period. Therefore, the money multiplier for the M1 definition was
a. smaller when time and saving deposits increased. b. smaller when time and saving deposits were assumed to be fixed. c. larger when time and saving deposits increased. d. smaller when time and saving deposits decreased.
In the long run, the Fed can change the inflation rate but not the unemployment rate
a. True b. False
Which of the following resulted from the Smoot-Hawley trade bill of 1930?
a. The stock market began a steady recovery from the crash of October 1929. b. Many countries responded by imposing higher tariffs on American products, and the volume of international trade fell sharply. c. Imports decreased, while exports increased, resulting in an overall increase in GDP and tariff revenues. d. The unemployment rate, which had been rising, began to steadily decline as jobs were protected by the trade restrictions.