Total changes in GDP over time are:
A. bigger than the annual growth rate due to compounding.
B. smaller than the annual growth rate due to compounding.
C. smaller than the annual growth rate due to backsliding.
D. bigger than the annual growth rate due to population growth.
A. bigger than the annual growth rate due to compounding.
You might also like to view...
What is purchasing power parity? Why might it not hold?
What will be an ideal response?
Which of the following did not help account for the recent decline in the growth of trash-to-energy plants?
a. a decline in energy prices b. less favorable tax treatment c. a decline in the amount of garbage per capita d. the 1986 tax reform act e. environmental concerns over sites for the plants
Samantha has been working for a law firm and earning an annual salary of $90,000 . She decides to open her own practice. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Samantha will cover her start-up expenses by cashing in a $20,000 certificate of deposit on which
she was earning annual interest of $1,000 . Assuming that there are no additional expenses, Samantha's annual explicit costs will equal a. $55,200 b. $221,400 c. $91,000 d. $146,200 e. $145,200
The ability to impose fines, revoke licenses, and put people into jail allows the government to:
A. Ensure positive profits for its agencies B. Maximize revenues from its operations C. Enforce involuntary transactions D. Set market prices for goods and services