Growth in real GDP per capita for the world economy was greatest during
A) the seventeenth century. B) the eighteenth century.
C) the nineteenth century. D) the twentieth century.
D
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Andrea Schwatz has argued that the Great Depression was caused by
a. the fall in the stock of money. b. the fall in consumer durable spending. c. the fall in investment spending. d. the increase in nominal wages.
If disposable income increases by $400 billion and consumption increases by $300 billion, the MPC equals
a. 0.75 b. 0.60 c. 0.80 d. 0.68
When negative externalities are present in a market
a. private costs will be greater than social costs. b. social costs will be greater than private costs. c. only government regulation will solve the problem. d. the market will not be able to reach any equilibrium.
For poor countries, a lack of capital and poorly developed infrastructure contribute to low farm productivity.
Answer the following statement true (T) or false (F)