What is the real GDP after four years if Country X's average annual growth rate is 8.6 percent and the initial real GDP was $2,756.0 million?
A) $2,993.0 million
B) $3,833.5 million
C) $1,077.5 million
D) $3,250.4 million
B
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Refer to Figure 2-9. Carlos Vanya grows tomatoes and strawberries on his land. A portion of his land is more suitable for growing tomatoes and the other portion is better suited for strawberry cultivation
Which of the graphs in Figure 2-3 represent his production possibilities frontier? A) Graph A B) Graph B C) Graph C D) either Graph A or Graph B E) either Graph B or Graph C
Calculate the value of the government purchases multiplier if the marginal propensity to consume equals 0.9, the tax rate equals 0.25, and the marginal propensity to import equals 0.15
What will be an ideal response?
If the price level increases by 2 percent each year, the inflation rate is increasing
a. True b. False Indicate whether the statement is true or false
While veterans' benefits appear as part of other categories of federal expenditures, they include
a. disability and survivors' compensation, education, and medical care b. education and food stamps c. net interest and medical care d. SSI and medical care e. education and housing