According to Figure 6.1, the average annual rate of growth of the U.S. economy in the period 1948-73 equalled ________
A) 1.8 percent
B) 4.0 percent
C) 39 percent
D) 697 percent
B
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Real investment spending is ____ real personal consumption
a. equal to b. greater than c. stable compared to d. highly volatile compared to
Within the Keynesian aggregate expenditure-output model, if an economy operates below full employment:
a. a reduction in wage rates and resource prices will soon restore full-employment equilibrium. b. a reduction in the real interest rate will soon restore full-employment equilibrium. c. an increase in the real interest rate will soon restore full-employment equilibrium. d. the economy may remain below full employment unless aggregate expenditures increase.
Suppose there are 81.0 million people not in the labor force, 154.0 million in the civilian labor force, and 140.9 million employed. Based on these numbers, what is the unemployment rate?
A. 5.5 percent B. 8.5 percent C. 9.3 percent D. 13.1 percent
The net increase in a country's stock of international reserves over a year is called a(n):
A. trade surplus. B. balance-of-payments deficit. C. trade deficit. D. balance-of-payments surplus.