If there's no import, the multiplier in Q9 equals
What will be an ideal response?
5.
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Classical growth theory predicts
A) a slowdown in population growth over time. B) sustained increases in economic growth in the long run. C) sustained increases in the standard of living in the long run. D) real GDP per person will remain at the subsistence level over time. E) the population growth rate slows as real GDP per person rises.
Refer to Table 2-4. What is Jack's opportunity cost of mowing a lawn?
A) one-half of a garden cultivated B) two lawns mowed C) two-thirds of a garden cultivated D) one and a half lawns mowed
National saving minus private saving is equal to
A) the government surplus. B) private disposable income. C) the current account deficit. D) interest on the government debt.
Gross domestic product is the value of all final goods and services produced within a country during a given period of time
a. True b. False Indicate whether the statement is true or false