Real GDP per capita:
A. cannot grow more rapidly than real GDP.
B. cannot grow more slowly than real GDP.
C. necessarily grows more rapidly than real GDP.
D. can grow either more slowly or more rapidly than real GDP.
Ans: D. can grow either more slowly or more rapidly than real GDP.
You might also like to view...
Which of the following models focuses on how productivity shocks explain fluctuations in real GDP?
A) the monetarist model B) the new classical model C) the new Keynesian model D) the real business cycle model
Consumption spending comprises what percentage of total spending?
A) 0.7 percent B) 7 percent C) 70 percent D) 700 percent
U.S. Trade Adjustment Assistance:
a. is not available to workers in manufacturing. b. is not available to workers displaced by NAFTA. c. is not available to workers in service industries. d. expired with the advent of the WTO in 1995.
When attempting to correct cases of "market failure," economists usually seek policies that maximize
A. producer surplus, not consumer surplus. B. consumer surplus, not producer surplus. C. the sum of consumer and producer surplus. D. the difference between consumer and producer surplus.