The standard of living is often measured by:
a) Real GDP per capita
b) Real GDP
c) Real GDP * population
d) Real GDP plus depreciation
Answer: a) Real GDP per capita
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If the Fed sells government bonds on the open market, which of the following is likely to occur?
A. The money supply will expand. B. The market rate of interest on government bonds will increase. C. The market rate of interest on corporate bonds will decrease. D. The amount of investment spending will increase.
The price of pie increases. Some people who purchased pie before the price increase no longer purchase pie. This is
A) a positive externality. B) a negative externality. C) a positive externality for some consumers and a negative externality for others. D) not an externality.
When interest rates go up, people are
a. more likely to borrow b. less likely to borrow c. does not affect a person's consumption d. None of the above
Which of the following options could be used to eliminate a recessionary gap?
a. Increase government spending. b. Decrease government spending. c. Decrease investment. d. Increase taxes.