In the ___________, total production keeps growing, but by smaller and smaller amounts.
Fill in the blank(s) with the appropriate word(s).
Ans: Second Stage of Production
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If the real interest rate is greater than the nominal interest rate in an economy:
A) inflation must be negative in the economy. B) inflation must be positive in the economy. C) inflation must be zero in the economy. D) the nominal interest rate must be equal to zero.
In election campaigns, presidents often promise more of everything (that is, more guns and more butter). What would help those elected presidents fulfill that promise?
A. The economy becomes more efficient. B. A minimum wage bill is passed. C. Illegal immigration into the United States is severely limited. D. The United States limits imports into the country.
The potential growth rate is sometimes also called the ________ of the economy.
A. stop point B. peak C. speed limit D. breaking point
Real GDP measures:
What will be an ideal response?