New growth theory holds that choices, and the discoveries that result from them, result in growth that is temporary in nature
Indicate whether the statement is true or false
FALSE
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Although imperfect, which of the following is used as a measure of the standard of living?
A) real GDP ÷ population B) real GDP × population C) nominal GDP × population D) nominal GNP ÷ population E) nominal GNP × population
Several national fast-food chains offer "kids' meals" with free giveaway toys, something many independent, local establishments cannot afford to do. The national chains are
A) engaging in predatory pricing. B) selling meals below cost. C) distributing toys below cost. D) engaging in anti-competitive behavior because the independents cannot afford to give away toys. E) almost certainly doing none of the above.
A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is best considered as
A) structurally unemployed. B) seasonally unemployed. C) cyclically unemployed. D) frictionally unemployed.
When the price level is rising at ______ and the real interest rate is 1 per-cent a year, the nominal interest rate is 3 percent a year
A. 4 percent a year B. 3 percent a year C. 2 percent a year D. 1 percent a year