Refer to the information above. An economy's real GDP per person doubles every 18 years when it maintains a growth rate of ________ per year
A) 5.6 percent
B) 4.0 percent
C) 0.25 percent
D) 0.9 percent
B
You might also like to view...
For a fixed percent reduction in pollution emissions to be economically efficient, it would have to be the case that:
A. all firms be the same size. B. enforcement is vigorous. C. the marginal cost of pollution control is the same across all firms. D. large polluters reduce emissions by more than small polluters.
Assume you save $1,000 in a bank account that pays 8 percent interest per year and the inflation rate is 3 percent. At the end of the year you have earned
A) a nominal return of $50. B) a negative real return. C) a real return of $50. D) a real return of $80.
Which of the following is an example of a nondurable good?
a. ice cream b. silverware c. motorcycle d. chair
If an economy is experiencing a recession, the Keynesian approach to achieving full employment is to:
A. Use various supply-side options, such as deregulation. B. Decrease the growth of the money supply. C. Do nothing. D. Employ expansionary fiscal policy.