Given a constant rate of growth of real GDP, what would cause a fall in real GDP per capita?
a. a rate of population growth that is less than the rate of growth of real GDP
b. a rate of population growth that is greater than the rate of growth of real GDP
c. an increase in the size of the labor force
d. an overall decrease in population
b
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Compare the monetary policy of the 50 states that make up the United States to the exchange rate regime of dollarization.
What will be an ideal response?
In the short run unemployment may fall below the natural rate of unemployment if:
a) Nominal wages have risen less than inflation b) Nominal wages have risen at the same rate as inflation c) Nominal wages have risen more than inflation d) Nominal wages have risen less than unemployment
If price is above the equilibrium, then quantity supplied will be greater than quantity demanded, putting downward pressure on price.
Answer the following statement true (T) or false (F)
What are lawmaking lags? What effect do they have on the use of discretionary fiscal policy?
What will be an ideal response?