Since 1900, real GDP per capita in the United States has ________ in the short run and has ________ in the long run
A) fluctuated; displayed a strong upward trend
B) remained fairly stagnant; grown considerably
C) decreased more often than it has increased; increased more often than it has decreased
D) grown at a stable and consistent rate; wildly fluctuated
A
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Changes in real planned investment spending have
A) an inverse relationship to changes in the interest rate. B) no identifiable relationship to changes in the interest rate. C) a direct relationship to changes in the level of household savings. D) a direct relationship to changes in interest rates.
You won the "$1,000 per year forever" lottery. You decided to convert such prize into a lump sum payment. The interest rate is 2% per year. How much is this lump sum payment?
A) $25,000 B) $1,000 C) $50,000 D) $365,000