The combined incomes of Walmart, ExxonMobil and Chevron total more than the GDP of:

The quantity of goods and services that can be produced by one worker or by one hour of work is referred to as

A) human capital. B) labor productivity. C) technology. D) real GDP.

If the inflation rate in 2013 was 2.5 percent, and because of that people expect the inflation rate in 2014 will also be 2.5%, these people are said to have

A) rational expectations. B) expectations of stagflation. C) adaptive expectations. D) expectations of supply shocks.