1. Let' see if your answer works for a country with an initial GDP of $50,000
50,000 * 1.05 = 52,500
52,500 * 1.05 = 55,125
55,125 * 1.05 = 57,881.25
Year 4: 60,775.31
Year 5: 63814,08
Will it reach 100,000 in ten years?
The next two are wrong.
38. Go back and check your book and then post your answer.
If real GDP per capita grows at a rate of 5% per year consistently over time, how many years would it take for it to double in size?
5
10 My answer
14
70
The purpose of indexing Social Security payments to the CPI is to ______.
increase corporate profits
justify continued government funding of the Bureau of Labor Statistics
avoid the privatization of Social Security (my answer)
maintain the purchasing power of retirees
37. Economists frequently use GDP per capita to better reflect ______.
the impact of prices on GDP
differences in living standards across countries
people who are employed
people who are both employed and unemployed (my answer)
38. During a recession ______.
unemployment and the growth rate of real GDP both decrease
unemployment decreases and the growth rate of real GDP increases
unemployment increases and the growth rate of real GDP decreases
there is no relationship between unemployment and the growth rate of real GDP
Not sure about this one
1 answer