If Italy's real GDP fell from $2.2 trillion one year to $1.9 trillion the next, the annual growth rate would be:
A. 13.6 %
B. 15.8 %
C. 13.6 %
D. 15.8 %
A. 13.6 %
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Which of the following is a characteristic of entrepreneurship?
a. the ability to navigate bodies of water b. it is produced using physical capital c. it is used up quickly in the production process d. it is a pre-existing resource like land e. it is associated with risk taking and innovation
In the opinion of many people, ________ is the main problem of international law.
Fill in the blank(s) with the appropriate word(s).
An increase in U.S. prices relative to prices in foreign countries will
A. increase U.S. imports and decrease U.S. exports. B. decrease U.S. imports and increase U.S. exports. C. decrease both U.S. exports and imports. D. increase total planned spending on U.S. goods and services.
What is measured on the horizontal axis when we draw a graph of the long-run aggregate supply curve?
A. real GDP B. production of capital goods C. the price level D. production of consumer goods