Over the past 100 years, in the United States the average growth rate cofgrew at a faster rate thanSelect one:a. real GDP; the populationO b. inflation; real GDPO c the population: real GDPC.O d. real GDP; nominal GDP

Gross domestic product (GDP) refers to the total value of all the final goods and services that…

Over the past 100 years, in the United States the average growth rate of, grew at a faster rate than Select one: O a. real GDP: the population O b. inflation; real GDP Oc the population; real GDP O d. real GDP; nominal GDP

Over the past 100 years, in the United States the average growth rate of, grew at a faster rate than Select one: O a. real GDP: the population O b. inflation; real GDP Oc the population; real GDP O d. real GDP; nominal GDP

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q51 What’s the correct answer ?
If the value of the goods and services a country produces decreases while its population stays the same, which statement must be true? O A. The country's rate of inflation has increased. O B. The country's per capita GDP has decreased. C. The country's unemployment rate has decreased. OD. The country's total GDP has increased. O O O
What does the positive and statistically significant correlation suggest about real income per capita as a measure of welfare? O A. Since correlation does not mean causality, real income per capita should not be used to measure welfare O B. Real income per capita is a reliablethough not perfect-indicator of human welfare within and across countries. O C. Correlation is a statistical quirk and suggests nothing about the use of real income per capita as a measure of welfare O D. Real income per capita can be trusted to give unquestionable assessments of human welfare within and across countries
The first table describes an economy's labor market in 2014 and the second table describes its production function in 2014. Suppose that labor productivity increases in 2014. The increased labor productivity. supply of labor. OA. increases; increases OB. increases; does not change O C. does not change; decreases O D. does not change; increases the demand for labor and the Real wage rate (2009 dollars per hour) 80 70 60 50 40 30 20 Labor hours 15 20 25 30 35 40 45 50 Labor hours supplied 55 50 45 40 35 30 25 Labor hours demanded 15 Real GDP (2009 dollars) 1,425 1,800 2,125 2,400 2,625 2,800 2,925 3,000 8885799 20 25 30 35 40 45
QUESTION 13 A nation's real GDP was $250 billion last year and $265 billion this year. Its population was 122 million last year and 125 million this year. What is the growth rate of real GDP per capita in this year? O a. 1.1 percent O b. 2.5 percent Oc.5.0 percent O d. 3.4 percent
Which of the following is FALSE? Select one: a. The consumer price index gives economists a way of turning dollar figures into meaningful measures of purchasing power. O b. The consumer price index is used to measure the quantity of goods and services that the economy is producing. O c. The consumer price index is used to monitor changes in the cost of living over time. O d. The percentage change in the CPI is a measure of the inflation rate, but the percentage change in the GDP deflator is not a measure of the inflation rate. O e. The consumer price index is used by economists to measure the inflation rate.
12
Jtilizing the aggregate production functions to the right, Robert Solow asserted that the most significant or critical factor in driving long term economic growth is and is reflected in the movement from to O A. capital accumulation; "B" to C" Production function3 D B. technological change; "A" to "B" Production function2 O C. economies of scale; "D" to "C" O D. technological change; "B" to "C Production function, :B O E. capital accumulation; "A" to "C" $40 Capital per hour worked (K/L) 60 Click to select your answer. la 19 Lhednge SSS-76 DOCX cBook Air F9 F10 F11 F12 F7 F8 + 8 9 del Real GDP per houraorked (Y/L)
Using the table, what is the real GDP growth from 2001 to 2002? O 50% YEAR O 1.25% 2001 2002 O-11.11% QUANTITY APPLES 100 150 BANANAS APPLES 40 $0.50 60 $1.00 PRICES BANANAS $2.50 $1.00
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In 2012, Northland had real GDP of $4.21 billion and a population of 2.98 million. In 2013, real GDP was $4.59 billion and population was 2.97 million. Northland's real GDP per person in 2013 was Select one: OA. $132. O B. $1.41. O C. $380. O D. $1,545. O E. $1,413.
Production possibilities (alternatives) A B Capital goods Consumer goods 4 3 2 of 12 14 15 Refer to the above tabl A total output of 3 units of capital goods and 4 units of consumer goods: Select one: O a. will result in the maximum rate of growth available to this economy. O b. is irrelevant because the economy is capable of producing a larger total output. Oc. is unobtainable in this economy. O d. would involve an inefficient use of the economy's scarce resources.