An increasing ratio of real GDP to BTU of energy consumption indicates that:
A. Increased energy consumption led to increased energy production
B. Increased energy production led to increased energy consumption
C. The discovery of energy sources greatly increased energy supply
D. Advances in technology greatly increased energy efficiency
D. Advances in technology greatly increased energy efficiency
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Monetizing the budget deficit
A) creates a full-employment deficit that exceeds the actual deficit. B) occurs when the Treasury sells bonds to businesses. C) helps stabilize the economy. D) leads to increases in the money supply.
The income approach to measuring GDP is based on summing
A) the values of final goods, intermediate goods and services, used goods, and financial assets. B) the production of each industry. C) consumption expenditure, investment, government expenditures on goods and services, and net exports of goods and services. D) wages, interest, rent, and profits. E) consumption expenditure and wages.
The most economically efficient exchange rate system is one in which
A) residents of a nation can reallocate their resources at minimal costs. B) the central bank in a nation requires the least intervention in domestic money markets. C) the central bank in a nation requires the least intervention in foreign exchange markets. D) real income fluctuations are minimized.
Refer to the above table. The four-firm concentration ratio is
A) 86.5 percent. B) 33.3 percent. C) 13.3 percent. D) 11.6 percent.