Refer to Table 21-2. Using the table above, what is the approximate average annual growth rate from 2013 to 2016?
A) -1% B) 1% C) 2% D) 4%
D
Economics
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Suppose that real GDP grows at 3 percent per year. What is the growth rate of real GDP per person if the population grows at:
a. 2 percent? What happens to the standard of living? b. 3 percent? What happens to the standard of living? c. 4 percent? What happens to the standard of living?
Economics
The formula for the multiplier can be written as change in
a. Y/change in I. b. I/change in Y. c. Y/change in C. d. Y/change in GDP.
Economics