A country has had its per capital real GDP remain constant for several years. During this period this country
A) has not experienced any economic growth.
B) may have experienced economic growth if the average hours worked per week have fallen.
C) will have experienced an inward shift of the production possibilities curve.
D) will have an increase in the number of poor people.
B
Economics
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Economists believe that trade is necessary for prosperity because
a. every country lacks some vital resources that it can get only by trade. b. each country's climate makes it a relatively efficient producer of some goods, and an inefficient producer of other goods. c. specialization permits large outputs and can produce economies of scale. d. All of the above are correct.
Economics
If the multiplier is 5, then the marginal propensity to consume (MPC) is
A. 0.5. B. 0.8. C. 1.0. D. 0.2.
Economics