The biggest contribution to real U.S. GDP growth in the 1970s was due to growth in
A) total factor productivity.
B) the capital stock.
C) the labor force.
D) both the capital stock and the labor force.
D
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Producer surplus measures the value between the actual selling price and the profit-maximization price
a. True b. False Indicate whether the statement is true or false
Savings for an economy is equal to:
A. private savings ? public savings. B. public savings ? private savings. C. private savings + public savings. D. investment ? net exports.
Real output per capita is calculated by
a. multiplying the population by GDP b. dividing nominal GDP by the population c. dividing the population by nominal GDP d. dividing real GDP by the population e. dividing the population by real GDP
Usury laws first originated in the United States in the 1970s in response to high market interest rates
Indicate whether the statement is true or false