Homework Answers
The correct option is Option A) The grows as the economy grows.
GDP is the monetary value of products and services manufactured into an economy. So when the GDP grows definitely economies grow or vice versa.
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Potential GDP in the United States A. grows as the economy grows. B. does not change...
choose the correct statement real gdp grows at a smoother rate than potential gdp grow Choose...
choose the correct statement real gdp grows at a smoother rate
than potential gdp grow
Choose the correct statement. O A. Real GDP grows at a smoother rate than potential GDP grows. OB. Economic growth is illustrated as a movement along the PPF. OC. The return to full employment in an expansion phase of the business cycle is economic growth. OD. A return to full employment in a business cycle expansion is shown as a movement from inside the PPF...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment rate falls. c. labor productivity falls. d. the unemployment rate rises. 8. The unemployment rate is the number of unemployed people, expressed as a. a ratio of total employed to the population. b. a ratio of unemployed to the total employed. c. a percentage of the labor force. d. a percentage of the population. 9. If part of the labor force is unemployed, the...
Problem 4.1 Question Help The new bridge to the United States in Southern Ontario and similar...
Problem 4.1 Question Help The new bridge to the United States in Southern Ontario and similar construction projects elsewhere in the country would be expected to help the economy in the short run, because O A. the use of discretionary fiscal policy would create an one time increase in real GDP but result in a job-less recovery. O B. the use of discretionary fiscal policy would create an one time increase in real GDP and employment. O C. the use...
in 2011, real gdp in the united states was below potential gdp. This fact definitely means...
in 2011, real gdp in the united states was below potential gdp. This fact definitely means that
FEE If real GDP is greater than potential GDP, the economy is O A. in a...
FEE If real GDP is greater than potential GDP, the economy is O A. in a below full - employment equilibrium. OB. in a long-run equilibrium. O C. not in a short - run macroeconomic equilibrium. OD. in a recessionary equilibrium. O E. in an above full - employment equilibrium. 7:30
GDP equals a. Aggregate income b. The value of the aggregate production in a country during...
GDP equals a. Aggregate income b. The value of the aggregate production in a country during a given time period c. Aggregate expenditure d. All of the above Choose the correct statement a. Potential GDP per person grew faster in the 1970s then in the 1960s b. Real GDP per person grows at a constant rate c. Real GDP per person in the United States doubled between 1960 and 2016 d. Real GDP per person is real GDP divided by...
When the economy goes through ups and downs over time: Multiple Choice O it isnot reflected...
When the economy goes through ups and downs over time: Multiple Choice O it isnot reflected by changes in GDP growth. economists call this pattern the business cycle. Oo oo itaffects the supply of labor. All of these are true. One explanation for the growth in the U.S. economy over the last 100 years is: Multiple Choice C) a small, incremental increase in human capital a rapid decline in human capital. a large increase in human capital. Human capital was...
What is the result if the size of the "underground economy" grows? Select one: O a....
What is the result if the size of the "underground economy" grows? Select one: O a. GDP will understate the level of economic activity. b. Since GDP does not include the "underground economy", there will be no understatement overstatement of economic activity. O c. Real GDP will rise more rapidly than nominal GDP. d. GDP will overstate the level of economic activity. e. Since the "underground economy" is included in the reported GDP, there is no issue of inaccuracy.
Consider the aggregate economy for the United States in 2007 and 2008, represented by the graph below. In which...
Consider the aggregate economy for the United States in 2007 and 2008, represented by the graph below. In which year is the unemployment rate higher? Price level (GDP deflator, 2009 = 100) LRAS2007 SRAS2008 LRAS2008 SRA $2007 99.2 A 97.3 AD2007 AD2008 14.83 14.84 14.88 15.20 Real GDP (trillions of 2009 dollars) The unemployment rate is higher in 2007. The unemployment rate is equal in the two years. The unemployment rate is higher in 2008. It cannot be determined from...
United States GDP per person was approximately $59,500 in 2017 [CIA World Factbook 2018]. Measured in...
United States GDP per person was approximately $59,500 in 2017 [CIA World Factbook 2018]. Measured in imilar dollars, Canada's GDP per person was approximately S48,300 in 2017 . Measured in a] In percentage terms, how much greater w as US GDP per person than Canadian GDP per person in 2017? Hint: employ the following formula: Percentage difference-((US value-Canadian valueycanadian value) x 100% b] Assume US GDP per person grows 2 percent per year over the subsequent 100 years, while Canadian...
choose the correct statement real gdp grows at a smoother rate
than potential gdp grow
Choose the correct statement. O A. Real GDP grows at a smoother rate than potential GDP grows. OB. Economic growth is illustrated as a movement along the PPF. OC. The return to full employment in an expansion phase of the business cycle is economic growth. OD. A return to full employment in a business cycle expansion is shown as a movement from inside the PPF...
Problem 4.1 Question Help The new bridge to the United States in Southern Ontario and similar construction projects elsewhere in the country would be expected to help the economy in the short run, because O A. the use of discretionary fiscal policy would create an one time increase in real GDP but result in a job-less recovery. O B. the use of discretionary fiscal policy would create an one time increase in real GDP and employment. O C. the use...
FEE If real GDP is greater than potential GDP, the economy is O A. in a below full - employment equilibrium. OB. in a long-run equilibrium. O C. not in a short - run macroeconomic equilibrium. OD. in a recessionary equilibrium. O E. in an above full - employment equilibrium. 7:30
When the economy goes through ups and downs over time: Multiple Choice O it isnot reflected by changes in GDP growth. economists call this pattern the business cycle. Oo oo itaffects the supply of labor. All of these are true. One explanation for the growth in the U.S. economy over the last 100 years is: Multiple Choice C) a small, incremental increase in human capital a rapid decline in human capital. a large increase in human capital. Human capital was...
What is the result if the size of the "underground economy" grows? Select one: O a. GDP will understate the level of economic activity. b. Since GDP does not include the "underground economy", there will be no understatement overstatement of economic activity. O c. Real GDP will rise more rapidly than nominal GDP. d. GDP will overstate the level of economic activity. e. Since the "underground economy" is included in the reported GDP, there is no issue of inaccuracy.
Consider the aggregate economy for the United States in 2007 and 2008, represented by the graph below. In which year is the unemployment rate higher? Price level (GDP deflator, 2009 = 100) LRAS2007 SRAS2008 LRAS2008 SRA $2007 99.2 A 97.3 AD2007 AD2008 14.83 14.84 14.88 15.20 Real GDP (trillions of 2009 dollars) The unemployment rate is higher in 2007. The unemployment rate is equal in the two years. The unemployment rate is higher in 2008. It cannot be determined from...
United States GDP per person was approximately $59,500 in 2017 [CIA World Factbook 2018]. Measured in imilar dollars, Canada's GDP per person was approximately S48,300 in 2017 . Measured in a] In percentage terms, how much greater w as US GDP per person than Canadian GDP per person in 2017? Hint: employ the following formula: Percentage difference-((US value-Canadian valueycanadian value) x 100% b] Assume US GDP per person grows 2 percent per year over the subsequent 100 years, while Canadian...
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