If real GDP per capita is decreasing, real output is:
a. growing less rapidly than the population.
b. growing more rapidly than the population.
c. growing at the same rate as the population.
d. growing more rapidly than are prices.
a
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Since business firms will undertake a project whose rate of return exceeds the present level of interest rates, when interest rates
A) rise planned investment rises, ceteris paribus. B) fall planned investment falls, ceteris paribus. C) rise planned investment does not change. D) rise planned investment falls, ceteris paribus.
If business firms are more optimistic during the expansion phase of the business cycle, they
A) raise their expected rates of return on projects and investment increases. B) lower their expected rates of return on projects and investment increases. C) raise their expected rates of return on projects and investment decreases. D) lower their prices and increase investment.