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coachalangreen. Nominal GDP $10,000 $12,000
If real GDP in a small country in 2005 is $8 billion and the real GDP in the same country in 2006 is $8.3 billion, the growth rate of real GDP between 2005 and 2006 According to the "Rule of 70", how many years will it take for real GDP per capita to double when the growth rate of real GDP per capita is 5%?The quantity of goods and services that can be produced by one worker or by one hour of work isWhat two factors are the keys to determining labor productivity?technology and the quantity of capital per hour workedthe average level of education of the workforce and the price levelmanufactured goods that are used to produce other goods and servicesthe accumulated knowledge and skills workers acquire from education and training or from their life experiencesthe quality of good and services that can be produced by one worker or by one hour of workphysical that is made by human laborers, not machinesstocks represent ownership in companies, while bonds represent ownership in banks.stocks usually issued in electronic form, while bonds are usually issued in paper form.stocks so not involve a promise to repay the purchaser of the stock, while bonds represent a promise to repay the purchase price of the bond.stocks are financial securities, while bonds are labor market securities.In addition to matching households that have excess funds with firms that want to borrow funds, what three key services does the financial system provide for savers and borrowers?In a closed economy, which of the following components of GDP is NOT included?In a closed economy, which of the following equations reflects investment?
Chapter 21 GDP and Prices: the AS-AD model; Chapter 22.
Check your mastery of this concept by taking a short quiz. {"ad_unit_id":"App_Resource_Leaderboard","width":728,"height":90,"rtype":"Quiz","rmode":"canonical","placement":1,"sizes":"[[[1200, 0], [[728, 90]]], [[0, 0], [[468, 60], [234, 60], [336, 280], [300, 250]]]]","custom":[{"key":"env","value":"production"},{"key":"rtype","value":"Quiz"},{"key":"rmode","value":"canonical"},{"key":"placement","value":1},{"key":"uauth","value":"f"},{"key":"uadmin","value":"f"},{"key":"ulang","value":"en"},{"key":"ucurrency","value":"usd"}]} economics. Macroeconomics is about whole economies. Edit.
Dr. Kendrick received his B.A.
Gross Domestic Product measures the Preview this quiz on Quizizz.
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68% average accuracy. and M.A. In 1929 following the stock market bottoming out, Simon Kuznets led an investigative study resulting in the first national data collection of Gross National Product (GNP). Chapter 26. 70
One of his earliest assignments was to study how to “deflate” (find the true inflation-adjusted estimates of) the U.S. and M.A.
3 years ago. Economics. The National Accounts. 2009 $17 207
What can be said about real average hourly earnings and nominal average hourly earnings between 2008 and 2010?Real average hourly earnings decreased and nominal average hourly earnings increased.Both real and nominal average hourly earnings decreased.
Test.
MIT OpenCourseWare is a free & open publication of material from thousands of MIT courses, covering the entire MIT curriculum.. No enrollment or registration. If the expected real interest rate is 5 percent, then the rate of inflation over the upcoming year that would be most beneficial to you would be a rate inflation.Assume the market basket for the consumer price index has two products--meant and potatoes--with the following values in 2000 and 2006 for price and quality: