Given the annual rate of economic growth, the "rule of 70" allows one to:
A. determine the accompanying rate of inflation.
B. calculate the size of the GDP gap.
C. calculate the number of years required for real GDP to double.
D. determine the growth rate of per capita GDP.
C. calculate the number of years required for real GDP to double.
You might also like to view...
Refer to Figure 2-12. One segment of the circular flow diagram in the Figure shows the flow of funds from market F to economic agents G. The funds represent spending on goods and services. What is market F and who are economic agents G?
A) F = product markets; G = firms B) F = factor markets; G = firms C) F = factor markets; G = households D) F = product markets; G = households
XM Satellite Radio and Sirius Satellite, who are the only major satellite radio companies serving the United States, were given permission in March of 2008 by the Justice Department to merge
Can you think of any reasons why there was no real worry about monopoly power?
A model that sometimes makes incorrect predictions may be used by economic decision makers
a. under no circumstances b. only if its assumptions are detailed and realistic c. if it is mathematical and computerized d. if it is simple enough for a child to understand e. until a better model is developed
The most widely used measure of inflation is based on which of the following price indices?
A) the producer price index B) the consumer price index C) the GDP deflator D) the wholesale price index