If China's real GDP grew from $7 trillion one year to $8 trillion the next, the annual growth rate would be:
A. 14.3 %
B. 87.5 %
C. 114 %
D. 12.5 %
A. 14.3 %
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The employment-to-population ratio in the U.S. is expected to decline as the baby boom generation retires
a. True b. False
If you and your friends receive many good job offers upon graduation, but the paychecks you all receive, although attractive, seem to buy fewer and fewer goods each month, you're probably living in the business cycle phase of
a. recession b. downturn c. boom or prosperity d. recovery e. trough
Pork can be used to produce bacon or sausage, but not both. If the price of bacon rises for some reason, then, everything else equal,
a. the price of sausage will rise. b. the price of sausage will fall. c. the resources used in raising Pork will become more expensive. d. the resources used in raising Pork will become less expensive.
The frequent use of credit cards and easy access to automatic teller machines have caused:
a. the demand for money to increase. b. the money supply in the economy to decrease. c. the price level in the economy to decrease. d. the velocity of money to increase.