Market power allows firms to raise prices significantly above the competitive level

A one percentage point in the growth rate

A) does not make much difference in the long run per capita real GDP. B) will not influence the real standard of living in a country. C) can make a big difference in the per capita real GDP because of urban congestion. D) can make a big difference in the per capita real GDP because of compounding.

Of all federal receipts (tax receipts and borrowing) about _____ comes from the payroll tax.

Fill in the blank(s) with the appropriate word(s).