One reason that a poor nation remains poor over time is that even though total national real GDP grows,
a. c and e.
b. c, d, and e.
c. it is too small to begin with.
d. the growth rate is smaller than the growth rate of industrialized nations.
e. it does not grow faster than population.
e
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In the United States, recessions are informally defined as ________ in real GDP
A) two consecutive quarters of positive growth B) two consecutive quarters of negative growth C) three consecutive quarters of negative growth D) three consecutive quarters of positive growth
Other things the same, if the dollar depreciates relative to the Japanese yen, then
A. the exchange rate falls. It will cost fewer yen to travel in the U.S B. the exchange rate falls. It will cost more yen to travel in the U.S C. the exchange rate rises. It will cost fewer yen to travel in the U.S D. the exchange rate rises. It will cost more yen to travel in the U.S
An artificially scarce good is:
A. not rival in consumption, but excludable. B. rival in consumption, but not excludable. C. rival in consumption and excludable. D. not rival in consumption and not excludable.
The new European Economic Community, after it changed its name to the European Communities, tackled two issues related to:
A) enlargement (expansion) of the European Communities and economic integration between members. B) immigration and terrorism. C) secret Nazi cells and latent communism. D) unemployment and inflation.