Which of the following annual real GDP growth rates would be needed just to maintain output per capita in the United States?

a. 10.0 percent
b. 2.5 percent
c. 1.0 percent
d. 7.0 percent
e. 3.5 percent

C

Economics

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Some observers opposing free trade argue that when we buy shoes from Brazil, U.S. workers lose their jobs. The fact of the matter is that

A) no U.S. worker has actually lost a job because of free trade. B) most jobs lost because of free trade pay less than the poverty level. C) free trade creates jobs in export industries. D) the jobs lost are really in Brazil.

Economics

The long-run Phillips curve is vertical

a. True b. False

Economics