According to the data on real U.S. GDP,
a. economic growth has been irregular, with periodic downturns.
b. economic growth has been consistent, with few downturns.
c. economic growth has been extremely rapid, but with major collapses.
d. economic growth has been elusive, but downturns have been eliminated.
a
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President Barack Obama pushed forward a national health care plan to increase the availability of medical care for all Americans. How would one determine the opportunity cost of the proposal?
What will be an ideal response?
Refer to Figure 19.3. At the exchange rate of 120 yen per dollar, the United States is experiencing a
A) balance of payments deficit. B) balance of payments surplus. C) capital account deficit. D) current account surplus.
Refer to the scenario above. If the individual places his bet on ten pockets, his likelihood of winning is:
A) 5%. B) 10%. C) 20%. D) 25%.
Which of the following is a way to measure of real GDP per capita?
A) (Labor productivity) × (Fraction of the population working) B) (Nominal GDP) / (Real GDP) C) (Total factor productivity) / (Capital stock) D) (Real GDP) × (population)