Suppose that real GDP for 2017 was $10,000 billion and real GDP for 2018 was $11,000 billion. What is the rate of growth of real GDP between 2017 and 2018?
A) 1%
B) 2%
C) 5%
D) 10%
Answer: D
You might also like to view...
In reality international trade is determined solely by comparative advantage and the free market forces of supply and demand
a. True b. False Indicate whether the statement is true or false
The multiplier will be smaller, other things being equal: a. the smaller the fraction of each dollar earned that goes to taxes
b. the larger the MPC. c. the smaller the fraction of each dollar of disposable income that goes to saving. d. None of the above are true.
Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below.Mega Corp: TC = 5,000 + 100QBig Inc: TC = 4,000 + 200QIf each firm produces 10 units, Mega Corp's total cost will be ________, and Big Inc's total cost will be ________.
A. $15,000; $14,200 B. $5,000; $4,000 C. $5,100; $4,200 D. $6,000; $6,000
The ability of an asset to hold its value over time is a(n)
A. store of value. B. medium of exchange. C. unit of accounting. D. standard of deferred payment.