The long-run average annual growth of real GDP per person is the United States is approximately ________ percent.
A. one
B. seven
C. five
D. two
Answer: D
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Financial markets promote greater economic efficiency by channeling funds from ________ to ________
A) investors; savers B) borrowers; savers C) savers; borrowers D) savers; lenders
Which of the following bonds are called tax-exempts?
A) Municipal bonds B) U.S. savings bonds C) U.S. Treasury bonds D) Consols
The Romer model is distinct from the Solow model in that the former assumes that ________
A) technology is fixed B) an increase in price affects quantity demanded, rather than demand C) some labor is devoted to producing new technology D) output per worker is fixed
Which of the following is most likely to be a fixed cost?
A. Shipping charges. B. Property insurance premiums. C. Wages for unskilled labor. D. Expenditures for raw materials.