Between 1950 and 2012, U.S. real GDP per capita grew at an average annual rate of about:
A. 5.5 percent.
B. 4.2 percent.
C. 3.2 percent.
D. 2.0 percent.
D. 2.0 percent.
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From 1970 to 2007 the quantity of M1 fell from 20 percent of GDP to less than 10 percent. This change is because the ownership of credit cards ________ during this time period since ________
A) expanded from 18 percent to 76 percent; credit cards became more widely available and utilized B) expanded from 18 percent to 76 percent; there were several recessions during that period C) fell from 76 percent to 18 percent; credit cards became less widely available and utilized D) remained unchanged; credit cards do not affect the quantity of money E) fell from 76 percent to 18 percent; there were several recessions during that period
Refer to Table 2-20. If the two countries specialize and trade, who should export wristwatches?
A) Japan B) There is no basis for trade between the two countries. C) Thailand D) They should both be importing wristwatches.
Prior to 2008, the bank's cost of holding reserves equaled
A) the interest paid on deposits times the amount of reserves. B) the interest paid on deposits times the amount of deposits. C) the interest earned on loans times the amount of loans. D) the interest earned on loans times the amount on reserves.
Standardized goods and services sold in the market are likely to have high switch-over costs
Indicate whether the statement is true or false