Describe the differences between the growth rates of real personal consumption and real gross private investment in the United States
What will be an ideal response?
The growth rate of real personal consumption in the United States has been relatively stable, no matter if the economy was in a recession or an expansion. The growth rate of real gross private investment, on the other hand, have been quite volatile over time, with the volatility becoming more extreme during recessions.
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According to this Application, other economists disagree with Professor Gordon and suggest that the ________ will help to increase future growth
A) global interconnectedness B) the Internet C) computer technology D) all of the above
When the price of a movie ticket falls from $14 to $10, the quantity of tickets demanded increases from 500 to 700 a day. What is the price elasticity of demand for movie tickets? (Use the midpoint method.)
What will be an ideal response?