Economic growth is best defined as an increase in:
A. either real GDP or real GDP per capita.
B. nominal GDP.
C. total consumption expenditures.
D. wealth in the economy.
A. either real GDP or real GDP per capita.
You might also like to view...
When a firm experiences a positive technological change
A) the price of a share of the firm's stock rises. B) the firm is able to produce more output using the same inputs, or the same output using fewer inputs. C) the firm will hire additional workers in order to increase production. D) the value of the firm's assets rises.
Market participants include:
A.) Business firms and consumers but not foreigners. B.) Consumers only. C.) Consumers, business firms, governments and foreigners. D.) Foreigners but not business firms.
Increased investment spending in the economy would be a possible result of
A) an increase in interest rates. B) a decrease in the money supply. C) an open market sale of bonds by the Fed. D) an open market purchase of bonds by the Fed.
According to economists Robert Lucas and Thomas Sargent, when are the gains to accurately forecasting inflation highest?
A) when inflation is high and stable B) when inflation is moderate but stable C) when inflation is high and unstable D) when inflation is low