The main point of the Consider This box about hypothetical countries Slogo, Sumgo, and Speedo is that over several decades differing:
A. inflation rates create large differences in real GDP per capita.
B. economic growth rates create large differences in real GDP per capita.
C. ratios of defense spending to GDP create large differences in real GDP per capita.
D. unemployment rates create large differences in real GDP per capita.
B. economic growth rates create large differences in real GDP per capita.
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According to Okun's Law, ________ tends to decline when the growth rate of real GDP is ________
A) inflation rate; low B) inflation rate; high C) unemployment rate; high D) unemployment; low
Refer to Scenario 17.3. If the fire protection program were not in place, the insurer would not be willing to ensure the warehouse for any amount less than
A) $80. B) $300. C) $3,000. D) $6,000. E) $300,000.