According to the rule of 70, a country will double its real GDP per capita in 10 years if it:
A. experiences a 7 percent growth rate in per-capita GDP.
B. has inflation of 7 percent.
C. has a population growth rate of 7 percent.
D. None of these is true.
A. experiences a 7 percent growth rate in per-capita GDP.
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The conclusion that the economy has price flexibility, wage flexibility, and perfectly competitive markets justifies
A) rational policy making. B) passive policy making. C) active policy making. D) none of the above.
The portion of corporation profits received by shareholders is termed
a. stocks b. bonds c. dividends d. interest e. principal
Because there is a trade-off between total output and equality of income distribution,
a. greater equality of distribution will generally result in higher levels of output. b. greater output is generally associated with more equal distribution. c. policies designed to increase output will only succeed if distribution is more equal. d. policies intended to expand output must necessarily fail. e. policies designed to equalize distribution may adversely affect the size of output.
The reason that opportunity costs arise is that
A. people have unlimited wants. B. there are no alternative decisions that could be made. C. an economy relies on money to facilitate exchange of goods and services. D. resources are scarce.