All of the following statements are true except
A) the Lucas wedge arises from the slowdown of productivity growth that began during the 1970s.
B) real GDP per person was $45,000 per year lower in 2016 than it would have been with no growth slowdown.
C) the Lucas wedge accumulated to $790,000 per person by 2016.
D) the Lucas wedge equals real GDP minus potential GDP.
E) the Lucas wedge is the dollar value of the accumulated gap between what real GDP per person would have been if the 1960s growth rate had persisted and what real GDP per person turned out to be.
Correct Answer:
Verified
Q99: In any year, real GDP
A)increases if potential
Q100: One of the reasons why real GDP
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