Suppose a nation's real Gross Domestic Product (GDP) grows at a rate of 2 percent per year while its population grows 2 percent annually. Given this information, this nation's annual rate of per capita real GDP growth is equal to
A) 1 percent.
B) -1 percent.
C) 0 percent.
D) 4 percent.
C
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Long-run increases in living standards, as measured by real GDP per person, are primarily the result of increases in:
A. government budget surpluses. B. average labor productivity. C. the money supply. D. population.
Most agree that ______________ is the degree to which the overall quality of one's life is judged as favorable. The General Social Surveys (GSS) of the United States asks questions about this
a. Happiness b. Fortitude c. Effectiveness d. Decision making
Which of the following items is included in the calculation of GDP?
a. Purchase of 100 shares of General Motors stock. b. Purchase of a used car. c. The value of a homemaker's services. d. Sale of Gulf War military surplus. e. None of these would be included.
Low voter turnout occurs because:
a. many potential voters underestimate the effect of their one vote b. many potential voters see the costs of voting as greater than the benefits c. many potential voters don't realize how much they benefit from voting d. all of the above