In the United States from 1949 to 2010, the vast majority of economic growth has been a result of the contribution from
A) capital.
B) labor.
C) total factor productivity.
D) Capital, labor, and total factor productivity have contributed about equally to economic growth.
D
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The expenditure method of measuring GDP is calculated by adding up: a. the final goods and services produced domestically during a given period
b. C + I + G + (X M). c. domestic production of final goods and services for consumers, firms, government, and the international sector (through net exports). d. all of the above.
Which of the following correctly describes real GDP?
a. Real GDP is GDP after subtracting spending on frivolous items like candy, movies, and toys. b. Real GDP is GDP after subtracting false growth induced by imported goods. c. Real GDP is GDP after adding export sales to foreign countries. d. Real GDP is GDP after subtracting out the effects of inflation.