Economic growth is measured by the:
a. advancement in the quality of a nation's technology
b. rate of business investment and capital formation.
c. annual percentage change in per capita real output of goods and services.
d. marginal change in nominal output divided by total output from the previous year.
c
You might also like to view...
Aggregate expenditure is equal to
A) C - I - G - NX. B) Y + C + I + G + NX. C) C + I + G - NX. D) C + I + G. E) C + I + G + NX.
The demand curve for canned peas is downward sloping. If the price of canned peas, an inferior good, rises, then
A) the income effect which causes you to reduce your canned peas purchases is smaller than the substitution effect which causes you to increase your purchases, resulting in a net increase in quantity demanded. B) the income and substitution effects offset each other but the price effect of an inferior good leads you to buy more canned peas. C) both the income and substitution effects reinforce each other to decrease the quantity demanded. D) the income effect which causes you to increase your canned peas purchases is smaller than the substitution effect which causes you to reduce your purchases, resulting in a net decrease in quantity demanded.
Under conditions of perfect competition, if losses occur in an industry, market forces may come into play to
a. reduce supply. b. lower average revenue. c. increase supply. d. attract new firms.
Which of the following would contribute to a positive trade balance for a country?
A) having tourists visit the country B) importing textiles C) having foreign residents buy the government bonds of the country D) importing financial services