Assume the real U.S. GDP in 1998 was $7,552 billion and the U.S. population was 270 million, and the real U.S. GDP in 2000 was $10 trillion and the U.S. population was 280 million. From 1998 to 2000, the per capita real GDP
A. Decreased.
B. Remained unchanged.
C. Increased then decreased.
D. Increased.
Answer: D
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Use the following graph to answer the next question.
In the figure, AD2 and AS2 represent the original aggregate supply and demand curves. If Q3 is full-employment output, then AD1 and AS2 represent a(n) ________.
A. full-employment B. expansion C. price stability D. recession
If the rate of inflation overseas falls relative to the rate of inflation in the United States, U.S. net exports will tend to ____, causing the exchange value of the U.S. dollar to ____
a. rise; rise b. rise; fall c. fall; rise d. fall; fall
Which of the following is an example of a stock variable?
a. The amount of cereal in a person's pantry b. The amount of cereal a person buys each week c. The amount of cereal a child consumes each month d. The amount of cereal produced each day e. None of these are stock variables
In his book The Other Path, de Soto suggests that countries will grow more quickly if governments limit entrepreneurship.
Answer the following statement true (T) or false (F)