Small differences in annual growth rates of real GDP generate large differences in real GDP over time because of the:
A. importance of average labor productivity.
B. diminishing returns to capital.
C. limits of economic growth.
D. power of compound interest.
Answer: D
Economics
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An example of a firm in monopolistic competition is
A) your local water company. B) the sole cable television company. C) the many Chinese restaurants in San Francisco. D) Kansas Power and Light, the sole provider of electricity in Kansas City. E) Shaniq, a wheat farmer.
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In the United States in 2014, the percentage of firms that employed between 3 and 199 workers and offered health insurance as a fringe benefit to the workers was about
A) 29%. B) 42%. C) 54%. D) 98%.
Economics