If real GDP rises from $500 billion to $510 billion, the economic growth rate is
A. 1.96 percent.
B. 2 percent.
C. -2 percent.
D. 10 percent.
Answer: B
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Which of the following is one of the main features of our modern economy that helps ensure against a repeat performance of the Great Depression?
a. transfer payments b. outsourcing c. multiplier d. personal income tax
When a country imposes tariffs, intending to protect domestic firms from foreign competition, it is pursuing _______–oriented policies
Fill in the blank(s) with correct word
A government policy of providing job training for unskilled youths is an example of a policy to promote economic growth by:
A. increasing physical capital. B. improving technology. C. increasing the availability of natural resources. D. increasing human capital.
Exhibit 13-3 A monopolist
In Exhibit 13-3, if this industry is regulated and the regulatory commission wants price to be set equal to marginal cost, the proper price and output combination to be set is:
A. price = $8; output = 30. B. price = $5; output = 40. C. price = $4; output = 25. D. price = $3; output = 50.