Over the last 100 years, real GDP per person in the United States has grown at an average rate of approximately 2 percent per year
Indicate whether the statement is true or false
TRUE
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Economic analysis indicates the net long-run effect of outsourcing for the United States is likely to be
A) an increased demand for labor due to economic growth. B) a decreased in the demand for labor in the United States in the short run. C) an increase in the supply of labor. D) a decrease in the supply of labor.
Describe the types of entry barriers that can exist and their importance to the study of monopoly.
What will be an ideal response?
The recessionary GDP gap will differ from the AD shortfall when the
A. Multiplier effect lowers spending. B. Multiplier effect raises spending. C. Aggregate supply curve slopes upward. D. Budget is balanced.
Which of the following is a unique characteristic of the German health care system?
a. There are no deductibles or copays for medical services. b. Compared to other developed countries, overall service utilization rates are low. c. Certain high-income individuals can choose to opt out of government run insurance altogether and purchase private insurance coverage. d. There is a uniform fee schedule charged to all patients.