Economic growth is measured by
A. the annual percentage change in nominal Gross Domestic Product (GDP).
B. the annual percentage change in per capita nominal Gross Domestic Product (GDP).
C. the annual percentage change in the unemployment rate.
D. the annual percentage change in per capita real Gross Domestic Product (GDP).
Answer: D
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A Social Security system in which payroll taxes that workers and their employers pay in go directly to retirees and other beneficiaries is known as
A) a pay-as-you-go system. B) an individual-account system. C) a primary-deficit system. D) a social-lockbox system.
One of the strongest reasons that oligopolies exist is due to
A) the homogeneity of their products. B) marginal cost pricing. C) lowest cost production. D) economies of scale.
If the aggregate supply curve shifts outward, then unemployment
a. and inflation will both decrease. b. and inflation will both increase. c. will increase and inflation will decrease. d. will decrease and inflation will increase.
The value of the deposit multiplier is increased if individuals hold all their money in cash
a. True b. False Indicate whether the statement is true or false