What is the annual rate of growth of per capita real GDP if real GDP grows at a constant rate of 4 percent per year and the annual rate of population growth is 3 percent?
A) 1 percent B) 3 percent C) 87 percent D) 4 percent
A
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Refer to Cost of Production. In order to produce 50 units of output per week, the firm must spend at least
The following questions refer to the diagram below. The wage rate is assumed to be $12 per hour, the rental rate is assumed to be $6 per hour, and capital is assumed to be fixed in the short run at 10 hours.
a. $60.
b. $120.
c. $180
d. an amount that can not be determined given the available information.
Over the last 50 years, U.S. labor productivity grew the fastest during the ________ because of ________
A) 1990s; advancements in healthcare due to the unlocking of the human genome B) 1980s; the invention of the computer and the oil embargo C) 1970s; an increase in government taxes and expanded regulations D) 1900s; the war on terror and return to the basics of education E) 1960s; fast paced technological change and large increases in human capital accumulation
Suppose you cash in a Certificate of Deposit (a small time deposit) to acquire the traveler's checks you'll need for your vacation. What happens to M1 and M2?
A) M1 and M2 both increase. B) M1 stays the same and M2 increases. C) M1 increases and M2 decreases. D) M1 increases and M2 stays the same.
In an economy, U = the number of adults who are unemployed, E = the number of adults who are employed, and NLF = the number of adults not in the labor force. The unemployment rate of the economy is equal to: a. U/(E + NLF)
b. U/E. c. U/(U + E). d. U/(E + NLF). e. U/(U + E ? NLF).