Over long periods of time, the growth rates of actual and potential GDP have been
a. diverging.
b. similar.
c. declining together.
d. usually far apart.
b
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The five countries with the highest carbon dioxide emissions include all of the following except:
a. Qatar b. Australia c. Canada d. Kenya
Refer to the following graph. Which of the following reflects government expansionary fiscal or monetary policy which would fail to increase real income?
a. An increase in aggregate demand from AD1 to AD2.
b. An increase in aggregate demand from AD2 to AD3.
c. An increase in aggregate demand from AD3 to AD4.
d. An increase in aggregate demand from AD4 to AD5.
When the supply of workers is plentiful, one would predict that market wages would be
a. determined solely by factors that affect supply. b. determined solely by factors that affect demand. c. low, other things equal. d. high, other things equal.
A steel company sells some steel to a bicycle company for $150 . The bicycle company uses the steel to produce a bicycle, which it sells for $250 . Taken together, these two transactions contribute
a. $150 to GDP. b. $250 to GDP. c. between $250 and $400 to GDP, depending on the profit earned by the bicycle company when it sold the bicycle. d. $400 to GDP.