Since at least 1995 the majority of increases in U.S. real GDP are from
What will be an ideal response?
productivity growth.
You might also like to view...
In the long-run equilibrium in a perfectly competitive market, the firms produce at the ________ possible average total cost and the price equals the ________ possible average total cost
A) highest; highest B) lowest; lowest C) highest; lowest D) lowest; highest
The automatic mechanism can best be described as:
A) the process of the economy adjusting back to potential GDP without any action taken by the government B) the result of monetary policy implemented by the Fed restoring full employment C) how fiscal policy is used to return the economy to its potential D) using rule-based policies to stabilize the economy
Which of the following is considered to be the major cause of the recession of 2001?
a. A decrease in defense spending b. A spike in oil prices and the collapse of the housing bubble c. A decline in oil prices and the collapse of the housing bubble d. Federal Reserve policy e. None of the above.
The industrial revolution began around the year _____.
A. 1650 B. 1750 C. 1850 D. 1950