If the average annual growth rate in real Gross Domestic Product (GDP) for a nation during the last decade was 4 percent per year and the average annual population growth rate was 3 percent per year during the same period, then the average annual growth rate of per capita GDP was
A. -1 percent.
B. 1 percent.
C. 0 percent.
D. 7 percent.
Answer: B
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Refer to Table 16.2. Real GDP for Fredonia for 2016 using 2015 as the base year equals
A) $2,750. B) $3,500. C) $4,325. D) $5,500.
A person starts practicing poisonous snake charming after signing a contract with a health insurance company. This is an example of
A) moral hazard. B) adverse selection. C) signaling. D) screening.
By 1964, nearly all blacks outside the South were covered by laws that allowed the government to issue cease and desist orders against discriminating firms. According to recent research by William Collins, these laws
a. were successful in improving the wages and working conditions of all African-Americans. b. were successful in improving the wages and working conditions of only Southern African-Americans. c. led to lower wages and deteriorating working conditions for African-Americans. d. had some success in improving the wages and working conditions of African-American women.
In the long run,
a. large government budget deficits cause productivity to increase, thereby leading to inflation b. large government budget deficits drive down interest rates and reduce investment spending c. large government budget surpluses mean reductions in the money supply d. changes in the government budget deficit have no effect on the capital stock e. large government budget deficits drive up interest rates and reduce investment spending