If real GDP was $13.1 trillion in 2013 and $13.3 in 2014, what is the growth rate?
A) $0.2 trillion B) 1.5 percent C) 15.0 percent D) 2.1 percent E) -1.5 percent
B
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Scarce government resources in developing countries would be best spent on
a. circulating basic health information b. modern medical equipment c. medical schools d. health care insurance e. none of the above
Suppose the index of leading economic indicators begins to decline for several months. Which of the following economic events will likely follow?
a. A recession. b. Severe inflation. c. Greater employment. d. Higher investment.
If the government sought to end a recession, which of the following would be an appropriate policy?
a. Increase taxes b. Decrease government purchases. c. Decrease taxes and increase government purchases. d. None of the above
The marginal cost curve crosses the average total cost curve at
a. the efficient scale. b. the minimum point on the average total cost curve. c. a point where the marginal cost curve is rising. d. All of the above are correct.