Between 1968 and 2008 the poorest 60% of the population experienced a _______ in its percentage share of the nation's wealth.
A. substantial decrease
B. small decrease
C. small increase
D. substantial increase
A. substantial decrease
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The real GDP in a nation has just increased from $2 billion to $2.1 billion
A) This country has experienced economic growth because there is a $.1 billion increase in real GDP. B) We do not know if this country experienced economic growth since the increase in the population was not given. C) We do not know if this country experienced economic growth since information on nominal GDP was not given. D) This country did not experience economic growth since $.1 billion is not a large number.
Profit is the payment received by resource owners for the use of their capital
a. True b. False
Ceteris paribus, a decrease in the U.S. price level will cause
a. an increase in U.S. exports. b. an increase in U.S. imports. c. the aggregate demand curve to shift to the right. d. the aggregate demand curve to shift to the left.
The scientific method is applicable to studying
a. natural sciences, but not social sciences. b. social sciences, but not natural sciences. c. both natural sciences and social sciences. d. None of the above is correct.