A depression is a particularly severe and protracted recession

Indicate whether the statement is true or false

TRUE

Economics

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Which of the following is not a reason why government officials are willing to impose entry barriers?

A) to increase economic efficiency B) to raise revenue C) to promote an equitable distribution of income D) to encourage innovation which may improve the standard of living in the long run

Economics

Suppose the population falls by 1 percent. For the standard of living to rise

a. nominal GDP can fall by as much as 1 percent b. nominal GDP must grow by at least 1 percent c. real GDP must grow by at least 1 percent d. real GDP must fall by at least 1 percent e. nominal GDP must fall by more than 1 percent

Economics