Question

Incorrect Question 11 0/2 pts When you look at countries that have high levels of GDP and compare them to countries with very low levels of GDP, what, according to our text, can you say about the relationship between GDP and leisure time? There is a positive relationship between a country's GDP and the average amount of leisure time enjoyed by its citizens (the higher GDP, the more leisure time on average) There is no direct relationship between a country's GDP and the average amount of Citizens in countries with a high real GDP have more leisure time on average; however citizens in countries with a high nominal GDP have less leisure time. Citizens in countries with a low real GDP have more leisure time on average; however citizens in countries with a low nominal GDP have less leisure time There is a negative relationship between a country's GDP and the average amount of eisure time enjoyed by its citizens (the higher GDP, the less leisure time on average)

Answer 1

11. Although there is no direct relationship between country's GDP and leisure time but there is positive indication for leisure time with high GDP. People living in country with high GDP have more possibility to have more leisure time in comparison to people living in country with low GDP. Hence, option A is correct.

13. Order of phases in a business cycle is Expansion-->Peak-->Recession-->Trough-->Expansion. Hence, option B is correct.

14. The best place (site) to find detailed United States government data on GDP and changes in GDP is www.bea.gov. Hence, correct option is C is correct.

16. The primary cause of Great depression of the 1930s was the over production due to efficient machinery. But there was no increase in demand. As a result, worker's wages were not increased as per the production efficiency. Because of low demand, sales decreased and as a result there was significant workers lay off leading to unemployment. Hence, correct option is F.