Multiple Choice
Which of the following statements regarding U.S. economic growth is NOT correct?
A) Over the past 100 years, on the average real GDP per person grew 2 percent a year.
B) The average annual growth rate of real GDP per person in the United States was rapid during World War II.
C) In the 1930s, real GDP fell well below its trend.
D) The growth rate of real GDP per person accelerated between 1973 to 1984.
Correct Answer:
Verified
Correct Answer:
Verified
Q191: Slowdonia's current growth rate of real GDP
Q192: According to the law of diminishing returns,
Q193: As the real wage rate increases, the<br>A)
Q194: Along the aggregate production function, as the
Q195: If the price level rises by 2
Q197: A higher savings rate that leads to
Q198: Which growth theory models growth as a
Q199: Neoclassical growth theory predicts that<br>A) population growth
Q200: How does the new growth theory explain
Q201: Potential GDP per labor hour can increase