The process of economic growth is
A. Constantly occurring in the United States.
B. Cumulative, whereby gains made in one year accumulate in future years.
C. Not important to economists.
D. Not affected by previous year's growth.
Answer: B
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For a nation's real GDP per capita to rise during a year,
A. population must increase more rapidly than real GDP. B. real GDP must increase more rapidly than population. C. investment spending must increase. D. consumption spending must increase.
The above figures show the market for HD televisions. If there are severe earthquakes that destroy a significant number of HD television manufacturing plants, which figure shows the effect of the earthquake?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the figures represent this change.
An individual wanting the most liquid asset possible will hold
A) currency. B) a savings account. C) gold. D) U.S. government bonds.
Which economic phenomenon is the short-run macro model most useful in explaining?
a. The sources of employment in the long run b. The trend of output in the long run c. The sources of cyclical unemployment d. The reasons why some workers become discouraged e. The sources of long-run economic growth