Which component(s) of U.S. real GDP decreased in size relative to total U.S. real GDP from 1950 to 2000?

A. Only services.
B. Only manufacturing.
C. Agriculture and manufacturing.
D. Only agriculture.

Answer: C

Economics

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When a firm experiences steadily declining long-run average total costs as it produces more output, it is known as a(n)

A) oligopoly. B) rent seeker. C) natural monopoly. D) monopolistic competitor.

Economics

Fundamental analysis shows that stock in Cedar Valley Furniture Corporation has a price that exceeds its present value

a. This stock is overvalued; you should consider adding it to your portfolio. b. This stock is overvalued; you shouldn't consider adding it to your portfolio. c. This stock is undervalued; you should consider adding it to your portfolio. d. This stock is undervalued; you shouldn't consider adding it to your portfolio.

Economics