The economic growth rate is expressed as the
A) growth rate of real GDP minus the growth rate of population.
B) growth rate of the population.
C) standard of living.
D) annual percentage change of real GDP per person.
E) annual percentage change of real GDP.
E
You might also like to view...
All else constant, an increase in the number of buyers in the market for cell phone service would cause:
A) equilibrium price and quantity to increase. B) equilibrium price and quantity to decrease. C) equilibrium price to increase and equilibrium quantity to decrease. D) equilibrium price to decrease and equilibrium quantity to increase.
The expression "There's no such thing as a free lunch" means that
a. services may be free, but goods are never free b. even if it has a price of zero, a good or service has a cost c. charitable organizations should not serve free lunches to the poor d. poor people are really the ones who pay for their allegedly free lunches e. someone has to pay the market price for a good or service
If the world price for good A is below the domestic price for good A without trade, then consumer surplus will ________ and producer surplus will ________ with trade.
A. decrease; decrease B. increase; decrease C. increase; increase D. decrease; increase
Which of the following is most likely to restore an economy to full employment, if it is operating below full employment due to a decrease in net exports?
A) Devaluation of the domestic currency B) A decrease in the demand for goods and services in the economy C) A decrease in investment in the economy D) An increase in the interest rate