Which of the following best describes the relationship between economic freedom and real per capita Gross Domestic Product (GDP)?
A) As economic freedom increases, real per capita GDP decreases.
B) As economic freedom increases, real per capita GDP increases.
C) As economic freedom decreases, real per capita GDP increases.
D) There are too many extraneous factors involved to discern a direct relationship.
B) As economic freedom increases, real per capita GDP increases.
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If the Fed raises the federal funds rate, eventually the
A) AD curve shifts rightward and real GDP increases. B) AD curve shifts leftward and real GDP decreases. C) AS curve shifts rightward and real GDP increases. D) AS curve shifts leftward and real GDP decreases. E) AD curve shifts rightward and real GDP decreases.
Over the past four decades
A) the growth rate of real GDP per person in the United States has been increasing. B) U.S. real GDP per person has fallen below that of the other rich industrial countries. C) U.S. real GDP per person has increased. D) Both answers A and C are correct.
When do we say that a bank is loaned up?
a. When its debtors don't want to repay b. When it is susceptible to a bank panic c. When its excess reserves equal zero d. When it is part of a fractional reserve banking system e. When its required reserves are equal to its excess reserves
The free-rider problem arises when the number of beneficiaries is large and exclusion of any of them is impossible
a. True b. False Indicate whether the statement is true or false