Which of the following is NOT an important factor affecting economic growth?
A) the rate of growth of capital B) the rate of saving
C) the rate of growth in labor productivity D) the growth of leisure
D
You might also like to view...
In the early 1970s, in an attempt to solve the problem of the overvalued U.S. dollar, world leaders
a. increased the price of gold in terms of other currencies b. appreciated the dollar, which made foreign exchange cheaper to U.S. residents c. appreciated the dollar, which made foreign exchange more expensive to U.S. residents d. devalued the dollar, which made foreign exchange cheaper to U.S. residents e. devalued the dollar, which made foreign exchange more expensive to U.S. residents
Changes in nominal GDP reflect
a. only changes in prices. b. only changes in the amounts being produced. c. both changes in prices and changes in the amounts being produced. d. neither changes in prices nor changes in the amounts being produced.
The economy of Omega operates according to Okun's law. In Omega, the actual and the natural rates of unemployment both equal 5 percent, and potential GDP equals $10 trillion. What is real GDP in Omega?
A. $9.5 trillion B. $9.0 trillion C. $10.5 trillion D. $10.0 trillion
Which of the following is not a determinant of the price elasticity of demand?
A. The number of substitute goods available. B. The time frame-whether it is in the short run or long run. C. The share of a consumer's budget. D. The amount of income the consumer has.