The output of goods and services produced in the United States has grown on average 3 percent per year since 1965.

Question

Question

The output of goods and services produced in the United States has grown on average 3 percent per year since 1965.

True
False

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

True

Reason: The output of goods and services in USA increased from $71,200 crores in 1965 to $19.39 lakh crores in 2018.

This shows a jump of close to 3 times, as compared to 1965.

Hence, the given statement is true

Add a comment

Answer 2

Similar Homework Help Questions

Since 1960, Germany's labor force has grown by an average of 0.8% per year, but the...

Since 1960, Germany's labor force has grown by an average of 0.8% per year, but the average hours that employee work has fallen by 0.8% per year. GDP has grown by an average of 2.4% per year. Public and private investment have increased the capital stock by an average of 1.5% per year, which has contributed an estimated 0.5% per year to growth. Thus, total factor productivity has increased by an annual average of: A) 0.8% B)1.5% C) 1.9% D)...
In the United States, exports of goods and services accounted for about what percentage of GDP (total output) in 2011?...

In the United States, exports of goods and services accounted for about what percentage of GDP (total output) in 2011? 6 percent 14 percent 24 percent 42 percent
Suppose the following expenditures were made on goods and services produced in the United States in...

Suppose the following expenditures were made on goods and services produced in the United States in 2017: Consumption $10 trillion Investment 3 trillion Government Purchases 4 trillion Government Transfer Payments 2 trillion Exports 2 trillion Imports 3 trillion What was GDP for the year? $16 trillion $18 trillion $19 trillion $24 trillion

1. True or False? If the United States is importing more goods and services from Canada,...

1. True or False? If the United States is importing more goods and services from Canada, this difference in balance must be paid by exchanging currencies.
Assume that both Japan’s and the United States’ average annual per capita GDP growth rates are...

Assume that both Japan’s and the United States’ average annual per capita GDP growth rates are 2 percent per year, and both countries began with an initial per capita GDP of $1,000. However, the United States has been growing since 1910 and Japan only since 1960. In 2010, the United States would have been ________ than Japan. a. 2.69 times richer b. 4,555 times richer c. 0.37 times poorer d. 99 times richer e. 0.269 times poorer
5. Japanese labor productivity is on average about the same as that of the United States...

5. Japanese labor productivity is on average about the same as that of the United States in the manufacturing sector (higher in some industries, lower in others). On the other hand, the United States is considerably more productive in the service sector than Japan. Unfortunately, most services are nontraded. American comparative advantage lies in things that they cannot sell to Japan. Some analysts have argued that this poses a disadvantage for the United States. There are two types of arguments:...

3. LaunchPad. In the United States, the capital share of GDP is about 30 percent, the...

3. LaunchPad. In the United States, the capital share of GDP is about 30 percent, the average growth in output is about 3 percent per year, the depreciation rate is about 4 percent per year, and the capital-output ratio is about 2.5. Suppose that the production function is Cobb-Douglas and that the United States has been in a steady state. (For a discussion of the Cobb-Douglas production function, see Chapter 3.) a. What must the saving rate be in the...
Since at least 1975, the United States has had a –SELECT A LABELservicestrade surpluspositivegoodstrade deficitnegative balance...

Since at least 1975, the United States has had a –SELECT A LABELservicestrade surpluspositivegoodstrade deficitnegative balance of trade, also known as a –SELECT A LABELservicestrade surpluspositivegoodstrade deficitnegative. However, it is clear that this trend is driven primarily by only one of the components of U.S. trade. If the distinction is made between the trade of goods versus the trade of services, it turns out that the United States enjoys a trade surplus for –SELECT A LABELservicestrade surpluspositivegoodstrade deficitnegative, but a...
From 1965 to 2017 the United Company has generated an annual average sock return of 20.8%...

From 1965 to 2017 the United Company has generated an annual average sock return of 20.8% per year. If I have been investing 1,000 per year in the stocks. How much would my investment value be by the end of 2017? below $10,000,000, between $10,000,000 and $30,000,000, between 30,000,000 and 50,000,000, between 50,000,000 and 70,000,000 or more than 70,000,000

True or False: Since 1950, the participation rate in the United States has remained roughly constant at 60%.

Using the information in this chapter, evaluate whether each of the following statements is true, false, or uncertain.Since 1950, the participation rate in the United States has remained roughly constant at 60%.

The output of goods and services produced in the United States has grown on average 3 percent per year since 1965.

Homework Answers

Add Answer to:
The output of goods and services produced in the United States has grown on average 3 percent per year since 1965.

Post as a guest

Earn Coins

Since 1960, Germany's labor force has grown by an average of 0.8% per year, but the...

In the United States, exports of goods and services accounted for about what percentage of GDP (total output) in 2011?...

Suppose the following expenditures were made on goods and services produced in the United States in...

1. True or False? If the United States is importing more goods and services from Canada,...

Assume that both Japan’s and the United States’ average annual per capita GDP growth rates are...

5. Japanese labor productivity is on average about the same as that of the United States...

3. LaunchPad. In the United States, the capital share of GDP is about 30 percent, the...

Since at least 1975, the United States has had a –SELECT A LABELservicestrade surpluspositivegoodstrade deficitnegative balance...

From 1965 to 2017 the United Company has generated an annual average sock return of 20.8%...

True or False: Since 1950, the participation rate in the United States has remained roughly constant at 60%.

The output of goods and services produced in the United States has grown on average 3 percent per year since 1965.

Homework Answers

Add Answer to: The output of goods and services produced in the United States has grown on average 3 percent per year since 1965.

Post as a guest

Earn Coins

Add Answer to:
The output of goods and services produced in the United States has grown on average 3 percent per year since 1965.