If real GDP per capita in the United States is $8,000, what will real GDP per capita in the United States be after 5 years if real GDP per capita grows at an annual rate of 3.2%?
A) $8,520 B) $9,280 C) $9,365 D) $10,560
C
Economics
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Which of the following statements is TRUE?
A) Real GDP fluctuates around potential GDP. B) Potential GDP fluctuates around real GDP. C) Potential GDP is the same as real GDP. D) When all of the economy's resources are fully employed, the value of production is called real GDP.
Economics
Refer to Figure 6-10. A perfectly inelastic supply curve is shown in
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Economics
The major U.S. social insurance program is:
a. Medicare. b. Unemployment insurance. c. Social Security. d. Supplemental Security income.
Economics
If a perfectly competitive firm sells 50 units of output at a market price of $10 per unit, its marginal revenue is:
A. more than $10. B. less than $10. C. $10. D. $500.
Economics