Refer to the graph below for the United States economy. The Growth trend line for the United States is a real GDP growth rate of a little over
a. 1 percent.
b. 3 percent.
c. 5 percent.
d. 7 percent.
b. 3 percent.
You might also like to view...
In the late 1970s, ________ of all firms were less than a year old. In recent years, ________ were
A) about 40 percent; about 20 percent B) almost half; less than one-quarter C) less than 5 percent; more than 40 percent D) more than 15 percent; only about 8 percent
An increase in the population of an economy will result in decreased output
a. True b. False Indicate whether the statement is true or false
Which of the following pairs of goods are probably complements?
A. Electricity and natural gas. B. Ketchup and French fries. C. Steak and chicken. D. Butter and margarine.
If the demand for a monopoly's output shifts rightward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer. B) the monopoly is a price taker. C) the monopoly has no supply curve. D) the monopoly's marginal cost curve might not be upward sloping.