As a percentage of total federal expenditures, national defense spending has _____ since the mid 1950s
a. slightly increased
b. risen precipitously
c. essentially stayed the same
d. declined
d
Economics
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In 1961, real GDP totaled $575 billion and in 2011 it totaled $1,255 billion. Between 1961 and 2011, the population increased from 50 million to 100 million. Between 1961 and 2011, the standard of living based on real GDP per person
A) decreased from $125,500 to $28,750. B) increased by about 118 percent. C) increased from $11,500 to $12,550. D) decreased by 9 percent. E) increased by over 300 percent.
Economics
What is the difference between positive economic analysis and normative economic analysis? Give one example each of a positive and normative economic issue or question or statement
What will be an ideal response?
Economics