Table 8-1
Item
Amount (billions)
Personal Consumption Expenditures
600
Depreciation
50
Wages
800
Indirect Business Taxes
10
Rental Income
25
Gross Private Domestic Investment
150
Corporate Profits
75
Net Exports
5
Government Purchases of Goods and Services
200
Government Transfer Payments
50
According to the data in Table 8-1, the value of NNP is

Which of the following statements is true?

A) Exponential growth refers to growth by the same amount in every time period. B) To depict variables that have exponential growth, it is more convenient to use an axis with a proportional scale. C) Linear growth refers to growth by the same proportion in every time period. D) To depict variables that have exponential growth, it is more convenient to use an axis with a linear scale. Consider two countries: country A and country B. At the beginning of year 2010, the GDP per capita in both countries is $2,400. The annual growth rate of output in country A is 3%, while the annual growth rate of output in country B is 5%.

A reduced demand for lawyers' services to prosecute damage suits

A) lowers the cost of hiring a lawyer to draw up a will. B) raises the cost of hiring a lawyer to draw up a will. C) raises the demand for lawyers' services in drawing up wills. D) will not affect the cost of hiring a lawyer to draw up a will though it could affect lawyers' fees.