Identify the two major ways economic growth is measured
What will be an ideal response?
Economic growth can first be defined and measured as an increase in real GDP occurring over a period of time. Economic growth can also be defined and measured as an increase in real GDP per capital occurring over a period of time. Economic growth is usually calculated as an annual percentage rate of growth.
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The demand for money schedule shows the ________ relationship between money demand and the nominal interest rate which means that as the ________
A) negative; opportunity cost of holding money increases, the nominal interest rate increases B) negative; nominal interest rate increases, the opportunity cost of holding money increases C) positive; nominal interest rate increases, the opportunity cost of holding money increases D) positive; nominal interest rate increases, the opportunity cost of holding money decreases E) negative; nominal interest rate increases, the opportunity cost of holding money decreases
Burning coal to generate electricity can create pollution. If the market for generating electricity is competitive and is allowed to operate without any government intervention, is the equilibrium quantity of coal burned equal to, more than, or less
than the efficient quantity?