If a country's per capita GDP is initially $100 and then grows for 3 years at 8 percent per year, its per capita GDP at the end of the three years will be around $10,000
a. True
b. False
Indicate whether the statement is true or false
False
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Industry X has four firms. The largest firm in Industry X has more than 90 percent of the market share. Industry Y also has four firms, but each of those four firms in Industry Y has 25 percent of the market share
The Herfindahl-Hirschman index will be A) the same for both industries, but the four-firm concentration will be larger for Industry Y than Industry X. B) the same for both industries, but the four-firm concentration will be larger for Industry X than Industry Y. C) larger for Industry Y than Industry X, but the four-firm concentration will be the same. D) larger for Industry X than Industry Y, but the four-firm concentration will be the same.
Which of the following about fiscal policy is true?
a. Modern forecasting methods make it relatively easy to time fiscal policy changes in a manner that will help stabilize the economy. b. Legislative action is necessary if automatic stabilizers are going to smooth the ups and downs of the business cycle. c. Proper timing of changes in discretionary fiscal policy is both crucially important and difficult to achieve. d. Both the crowding-out and new classical theories indicate that expansionary fiscal policy will exert a powerful impact on aggregate demand.
The Federal Reserve District Banks are owned by
A. the federal government. B. a combination of state governments and the federal government. C. the board of governors. D. their member banks.
If real GDP is less than potential GDP, then the ________ and the price level ________
A) aggregate demand curve shifts leftward; rises B) aggregate demand curve shifts rightward; falls C) aggregate supply curve shifts leftward; rises D) aggregate supply curve shifts rightward; falls E) amount of potential GDP increases; falls