Principles of Macroeconomics, Loose-Leaf Version
8th Edition
ISBN: 9781337096881
Author: Mankiw, N. Gregory
Publisher: South-Western College Pub
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Question
Chapter 12, Problem 3CQQ
To determine
Natural resources and growth.
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The Trump administration's policies to increase long-run economic growth included all of the following except
A.
increasing the
employment–population
ratio.
B.
reducing business taxes to increase investment spending.
C.
increasing business startups by reducing regulations and taxes on small businesses.
D.
raising the federal minimum wage.
In the 1870s and 1880s, the US economy grew faster than ever before and quickly became the largest economy in the world. What factor(s) contributed to this incredible economic growth the most? Some possible factors you can mention are big business owners, known as robber barons, immigration, the engineering revolution, railroads, etc.
Use the graph shown below to calculate the growth rate of real GDP for a price increase of 20 percentage points in each case. Enter
your responses below rounded to one decimal place.
Price index
AS
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
1050 1100 1150 1200 1250 1300 1350 1400
Real GDP
a. If the present price level is 100, the growth rate of real GDP is
b. If the present price level is 120, the growth rate of real GDP is
%.
%.
Chapter 12 Solutions
Principles of Macroeconomics, Loose-Leaf Version
Ch. 12.1 - Prob. 1QQCh. 12.2 - Prob. 2QQCh. 12.3 - Prob. 3QQCh. 12 - Prob. 1CQQCh. 12 - Prob. 2CQQCh. 12 - Prob. 3CQQCh. 12 - Prob. 4CQQCh. 12 - Prob. 5CQQCh. 12 - Prob. 6CQQCh. 12 - Prob. 1QR
Ch. 12 - List and describe four determinants of...Ch. 12 - Prob. 3QRCh. 12 - Prob. 4QRCh. 12 - Prob. 5QRCh. 12 - Prob. 6QRCh. 12 - Prob. 7QRCh. 12 - Prob. 8QRCh. 12 - Prob. 1PACh. 12 - Prob. 2PACh. 12 - Prob. 3PACh. 12 - Prob. 4PACh. 12 - Prob. 5PACh. 12 - Prob. 6PACh. 12 - Prob. 7PACh. 12 - Prob. 8PACh. 12 - Prob. 9PA
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