Which of the following is a correct statement about the growth of real GDP in the U.S.economy?
A) Real GDP in 2004 was almost four times its 1965 level.
B) The output of goods and services grew on average about 3.2 percent per year between 1965 and 2004.
C) Continued growth in real GDP enables the typical American to enjoy greater economic prosperity than did his or her parents and grandparents.
D) All of the above are correct.
Correct Answer:
Verified
Q3: Suppose that over the last twenty-five years
Q9: Suppose that twenty-five years ago a country
Q165: Real GDP in the United States is
Q167: Dave,a student who knits ski caps with
Q168: The information below was reported by the
Q170: The information below was reported by the
Q171: Which of the following statements about the
Q172: Recessions are associated with which of the
Q173: A farmer produces the same output in
Q174: A recession is always associated with
A)declining real
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents