Throughout the 1970–2007 period, government's share of the increasing GDP was no more than a few percentage points away from
a. 10 percent of GDP
b. one quarter of GDP
c. one third of GDP
d. one half of GDP
e. two thirds of GDP
C
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If 50 percent of the population in a country is employed and average labor productivity equals $30,000, then real GDP per person equals:
A. $50,000. B. $30,000. C. $15,000. D. $60,000.
When the actual reserve/deposit ratio is less than the desired reserve/deposit ratio banks:
A. do nothing because this is a profitable situation. B. stop making loans. C. make more loans in order to earn interest. D. send the extra reserves to the central bank.
Which United States President is most closely identified with the Great Depression?
a. Calvin Coolidge. b. Herbert Hoover. c. Franklin Roosevelt. d. Theodore Roosevelt. e. Richard Nixon.
The graph shown demonstrates a tax on sellers. Before the tax was imposed, the buyers purchased ________ units and paid ________ for each one.
A. 15; $6 B. 31; $19 C. 31; $9 D. 15; $16