In terms of economic growth, the key measure of the standard of living is
A) real GDP per capita. B) real GDP.
C) nominal GDP. D) nominal GDP per capita.
A
You might also like to view...
Which of the following statements is FALSE?
A) A perfectly inelastic supply curve is a vertical line. B) Time is an important consideration in determining supply elasticity. C) Price elasticity of supply can never equal 1. D) A horizontal supply curve is possible.
Professor Cowen says that fiscal policy would make more sense if we:
A. relied more heavily on tax cuts than we currently do for fiscal policy. B. ran government budget deficits in years in which the unemployment rate was high. C. used a combination of tax cuts and increases in government spending. D. actually had government budget surpluses in years in which the economy was in good health.
Refer to the above figure. Medicare subsidies have increased the price of medical services to Ps. Which of the following statements is TRUE about the effect the Medicare subsidy has had on the consumption of medical services?
A. The amount of medical services provided has increased from Qd to QM as a result of the subsidy. B. The amount of medical services provided has decreased from Q0 to Qd as a result of the subsidy. C. The amount of medical services provided has remained unchanged as a result of the subsidy. D. The amount of medical services provided has increased from Q0 to QM as a result of the subsidy.
Use the following table to answer the next question.Money SupplyInterest RateGross Investment$200 billion0.2%$1 trillion$250 billion0.2%$1 trillion$300 billion0.2%$1 trillionWhich limitation for monetary policy is illustrated by the table?
A. crowding out B. pessimistic business expectations C. policy lags D. the liquidity trap