The output of goods and services produced in the United States has grown on average 3 percent per year since 1965
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
When the economy is at full employment, the
A) natural unemployment rate is equal to 0 percent. B) natural unemployment rate equals the unemployment rate. C) natural unemployment rate is equal to 10 percent. D) unemployment rate is equal to 0 percent. E) frictional unemployment rate is equal to 0 percent.
The four-firm concentration ratio in the breakfast cereal industry is 80 percent
How does the five competitive forces model provide better insight into the degree of competition in the breakfast cereal industry than just observing the concentration ratio?
If the average propensity to consume is 1.0, the marginal propensity to consume is 0.8, and real disposable income increases by $100, the additional saving is
A) $0. B) $20. C) $80. D) $100.
Which of the following is true of import tariffs and quotas?
a. They benefit domestic producers. b. Domestic consumers gain because they purchase the output of domestic firms. c. Specialization and comparative advantage are advanced by tariffs and quotas. d. They tend to expand the volume of world trade. e. Because they increase the output levels of domestic firms, they tend to lower domestic prices.