Which of the following is correct?
a. Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago.
b. Most countries have had little fluctuation around their average growth rates during the past 120 years.
c. The ranking of countries by income changes little over time.
d. Even though Japan had a higher growth rate of real GDP per person than the U.S. over the last 120 years, it's level of real GDP per person is less than that of the U.S.
d
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What factors are not important in determining exchange rate fluctuations in the long run?
A) preferences for domestic and foreign goods across countries B) speculating in currency markets C) relative price levels across countries D) relative rates of productivity growth across countries
When government spending is equal to the tax revenues during a specific time period, this is known as a
A) government budget deficit. B) government budget surplus. C) balanced budget. D) public debt.
List four things considered to be shortcomings in the determination of GDP in relation to the use of GDP as a measure of welfare
What will be an ideal response?
The total value of all outstanding federal government securities is
A) a flow variable. B) the budget deficit. C) total personal wealth. D) none of the above.