What has been the average growth rate of U.S. real GDP per person over the past 100 years? In which periods was growth most rapid and in which periods was it slowest?
What will be an ideal response?
Over the past 100 years, U.S. real GDP per person grew at an average rate of 2 percent per year. Slow growth occurred during mid-1950s and 1973–1983 . Very slow growth (negative growth!) also occurred during the Great Depression. Growth was rapid during the 1920s and 1960s. Growth was also (extremely!) rapid during World War II.
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A bank has $250 in checking deposits, $1,000 in savings deposits, $1,200 in time deposits, $1,000 in loans to businesses, $400 in outstanding credit card balances, $800 in government securities, $25 in currency in its vault, and $25 in deposits at
the Fed. Of these, ________ are part of M2. A) $2,600 B) $2,450 C) $3,450 D) $2,850 E) $2,200
A game with more than three players is called a community game
Indicate whether the statement is true or false
Which of the following decrease if the U.S. imposes an import quota on computer components?
a. U.S. exports and U.S. imports b. U.S. exports but not U.S. imports c. U.S. imports but not U.S. exports d. neither U.S. exports nor U.S. imports
Suppose ABC Dairy is one firm competing in the perfectly competitive market for milk. Now suppose ABC Dairy decides to produce only organic milk. Which of the following best describes the effects of this change in the market?
A. ABC Dairy is differentiating its product and will likely be able to charge a higher price than before. B. ABC Dairy will still be a price taker because it is still operating in a perfectly competitive market. C. ABC Dairy will have a monopoly on organic milk due to very high entry barriers. D. The other dairy firms will produce with excess capacity, but ABC Dairy will be efficient.