If the economy's real GDP doubles in 9 years, we can
A. conclude that its average annual rate of growth is 8%.
B. not say anything about the average annual rate of growth.
C. conclude that its average annual rate of growth is 4%.
D. conclude that its average annual rate of growth is 12%.
Answer: A
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The smaller the quantity and quality of complementary resources used in production,
a. the greater the demand for labor b. the greater the marginal resource cost of labor c. the lower the marginal resource cost of labor d. the lower the marginal productivity of labor e. the greater the marginal productivity of labor
In 2011, the Census Bureau introduced an alternate poverty measure that is based on:
A. the price of food, and adjusts for geographic differences in the cost of living. B. the prices of food, clothing, shelter, and utilities, and adjusts for geographic differences in the cost of living. C. the price of housing, and adjusts for geographic differences in the cost of living. D. the average income of the lowest quartile of income earners.