Over very long periods, U.S. real economic growth averaged around:
A. 5 percent per year.
B. 7 percent per year.
C. 3 percent per year.
D. 1 percent per year.
Answer: C
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The magnitude of the slope of an indifference curve
A) is equal to the marginal rate of substitution. B) always equals the relative price of the product measured along the horizontal axis. C) increases as income increases. D) decreases when income increases.
The information lag facing the Fed is
A) the difficulty of becoming informed quickly of changes in public opinion about which policy goal is most important. B) the delay in receiving accurate information about the state of the economy. C) the delay in Congress and the President communicating their policy goals for the Fed to act on. D) the time required for monetary policy changes to affect output, employment, and prices.
Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. Two possible consumption bundles that Country A could produce are:
A. (5,000 bananas, 1,000 tomatoes) and (1,000 bananas, 5,000 tomatoes) B. (5,000 bananas, 0 tomatoes) and (2,500 bananas, 500 tomatoes) C. (2,500 bananas, 500 tomatoes) and (1,250 bananas, 800 tomatoes) D. (2,500 bananas, 750 tomatoes) and (1,250 bananas, 750 tomatoes)
There are few truly global brands
Indicate whether the statement is true or false