Countries that grew the fastest over the last 100 or so years had average growth rates of real income per person of about
a. 1.5 percent per year.
b. 2.0 percent per year.
c. 2.5 percent per year.
d. 3.0 percent per year.
c
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Three workers run a house painting business and always work the same number of hours together. The paint they use requires applying two coats. Each worker paints 200 square feet per hour using a roller or 80 square feet per hour using a brush. If a technological advance provides a paint that only requires one coat, their average labor productivity per hour as a team:
A. increases. B. remains the same. C. may either increase or decrease. D. decreases.
Automatic stabilizers are features of the economy that reduces its sensitivity to shocks, such as sharp increases or decreases in spending.
Answer the following statement true (T) or false (F)
When the expenditure approach is used to measure GDP, the major components of GDP are
What will be an ideal response?
During the last two centuries, after adjustment for inflation,
A) both corporate stocks and bonds have yielded an average annual real rate of return of about 3 percent. B) corporate stocks have yielded an average annual real return of approximately 7 percent, compared to an average real return of about 3 percent for bonds. C) corporate bonds have yielded an average annual real return of approximately 7 percent, compared to an average real return of about 3 percent for corporate stocks. D) both corporate stocks and bonds have yielded an average annual real rate of return of about 7 percent.