Agriculture productivity has increased more rapidly in the U.S. than has nonagriculture productivity
Indicate whether the statement is true or false
True
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The four categories of expenditure used by the expenditure approach method to calculate GDP are
A) consumption expenditure, taxes, saving and investment. B) consumption expenditure, investment, net imports and saving. C) saving, taxes, government expenditure and investment. D) consumption expenditure, investment, government expenditure and net exports.
The definition of the velocity of money is
a. the money supply multiplied by prices divided by transactions. b. the number of times a unit of currency changes hands over a perid. c. money supply times prices divided by transactions. d. the fraction of total income held as money.
Who would most likely lobby Congress for a price support on wool?
a. retail sweater outlets b. consumers of wool caps c. taxpayers d. wool producers e. sheep
There is a direct link between a nation's per capita real GDP and its:
a. c and e. b. c, d, and e. c. human capital investment. d. population. e. life expectancy.