In 2011, Armenia had a real GDP of $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. What was Armenia's economic growth rate from 2011 to 2012?

In constructing models, economists

a. leave out equations, since equations and models tend to contradict one another. b. ignore the long run, since models are useful only for short-run analysis. c. sometimes make assumptions that are contrary to features of the real world. d. try to include every feature of the economy.

In the United States, the distribution of wealth

A) is the same as the distribution of income. B) is more unequal than the distribution of income. C) is more equal than the distribution of income. D) is equal for all families.