Real GDP is $9 trillion in the current year and $8.6 trillion in the previous year. The economic growth rate between these years has been
A) 5.67 percent.
B) 4.65 percent.
C) 10.31 percent.
D) 7.67 percent.
E) $0.4 trillion.
B
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The opportunity cost for a student of attending college for a year is measured by
A. the benefit received by the student. B. the tuition paid for the year. C. the value of the most valued opportunity foregone by attending college. D. the total money outlays associated with attending college.
The Clayton Act of 1914:
A. prohibited selling products at "unreasonably low prices" with the intent of reducing competition. B. made it illegal to monopolize a market. C. repealed the Sherman Act. D. outlawed price discrimination for the purpose of reducing competition.
The gap between rich and poor countries
A. has remained constant over time because technological advances can be easily shared among nations. B. has decreased over time because poor countries can more easily devote resources to capital production. C. has increased over time because poor countries find it difficult to devote resources to capital production. D. has remained constant over time because the rate of capital production has remained constant in rich and poor nations.
The dynamic aggregate demand curve has a negative slope for all of the following reasons except:
A. the fact that high rates of inflation are good for the stock market. B. the reduction in real wealth caused by inflation. C. the redistribution that occurs as inflation has a greater impact on the poor than it does on the wealthy. D. higher current inflation leads policymakers to increase the real interest rate, which depresses various components of aggregate expenditures.