Given a constant rate of growth of real GDP, what would lead to an increasing real GDP per capita?
a. a rate of population growth that is less than the rate of growth of real GDP
b. a rate of population growth that is greater than the rate of growth of real GDP
c. an increase in the size of the labor force
d. an increase in the capital stock
a
You might also like to view...
Walter rents some ice time at the local hockey rink for 2 hours. After skating for an hour, he finds himself cold, tired, and hungry. If Walter decides to skate around for the other hour before leaving, it is likely because he:
A. is ignoring the sunk cost of the rink time. B. is focusing on the sunk cost of the rink time. C. is weighing his opportunity costs of the second hour against the benefits of the second hour of skating. D. None of these is true.
Individuals behave so as to maximize their utility
a. True b. False Indicate whether the statement is true or false
Why do policymakers have the goal of stable prices?
a. Stables prices always keep the economy in expansion b. Firms make too much money when prices are rising c. Inflation is always associated with wars d. Inflation imposes costs on society e. Inflation is always associated with trade deficits
In a closed economy, each unit of output is either consumed by households or invested
a. True b. False Indicate whether the statement is true or false