Which of the following most accurately describes the changes in GDP and unemployment between 1929 and 1933?
a. Real GDP changed little but the unemployment rate increased to about 50%.
b. Real GDP increased by about 10% and the unemployment rate decreased to about 3%.
c. Real GDP decreased by about 30% and the unemployment rate increased to about 25%.
d. Both Real GDP and the unemployment dropped significantly.
c. Real GDP decreased by about 30% and the unemployment rate increased to about 25%.
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A future payment's present value is
A) the value in today's dollars of funds to be paid or received in the future. B) the value in today's dollars of funds to be paid or received today. C) the value in a future date's dollars of funds to be paid or received today. D) the value in a future date's dollars of funds to be paid or received in the future.
The vicious cycle of poverty refers to the fact that LDCs are poor because other countries do not want to buy their goods and services
Indicate whether the statement is true or false