Annual Growth Rates of Real GDP Per Capita
(in percents)
Ending
Year
1929
1933
-8.2
1939
0.2
1940
0.9
1945
3.7
10.3
1950
2.4
4.1
-1.8
1955
2.4
3.6
0.4
2.7
1960
2.2
2.9
0.6
1.7
0.8
1965
2.4
3.0
1.3
2.3
2.1
3.5
1970
2.3
2.9
1.5
2.3
2.2
2.9
2.3
1975
2.3
2.7
1.5
2.2
2.0
2.4
2.0
1.6
1980
2.3
2.7
1.7
2.2
2.1
2.5
2.2
2.1
2.6
1985
2.3
2.6
1.7
2.2
2.2
2.4
2.2
2.1
2.4
2.2
1990
2.3
2.6
1.8
2.2
2.2
2.4
2.2
2.2
2.4
2.2
2.3
1995
2.2
2.5
1.7
2.1
2.1
2.3
2.1
2.0
2.1
1.9
1.8
1.3
2001
2.3
2.5
1.9
2.2
2.2
2.3
2.2
2.2
2.3
2.2
2.2
2.1
2.8
1929
1940
1945
1950
1955
1960
1965
1970
1975
1980
1985
1990
1995
Starting Year
Source: Economic Report of the President, various years.
This table keeps changes in real GDP from being overstated by adjusting for
Select one:
a. productivity.
b. inflation.
c. standard of living.
d. population growth.
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Per Capita GDP
Luxembourg $33,609
United States $33,586
Switzerland $27,126
Japan $23,311
Iceland $23,230
Economists use numbers such as those in the table as a measure of
Select one:
a. net exports.
b. total dollar value of all final goods and services.
c. national income.
d. standard of living.
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Per Capita GDP
Luxembourg $33,609
United States $33,586
Switzerland $27,126
Japan $23,311
Iceland $23,230
The numbers in this table were calculated by
Select one:
a. multiplying GDP by total population.
b. dividing GDP by total population.
c. adding the dollar value of all final goods and services produced in the nation.
d. subtracting net exports from GDP.
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A key gauge of future U.S. economic activity declined 0.5% last month, as the Sept. 11 terrorist attacks in New York and Washington weakened an already troubled economy.
The Conference Board said Monday its index of leading economic indicators fell to 109.2 in September,...the largest one-month decline since January 1996.... The index indicates where the overall U.S. economy is headed in the next three to six months....
The economy had been struggling for several months before the Sept. 11 attacks. Many economists have said they believe that a recession is unavoidable with the new uncertainties raised by the disaster.
Source: âLeading Indicators Decline,â USAToday.com, October 22, 2001.
The passage discusses a business fluctuation influenced by
Select one:
a. external shock.
b. monetary factors.
c. innovation.
d. capital expenditures.
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For all the recent talk of cutting taxes, Congress rarely cuts them when the economy is growing robustly, as it is now, and unemployment is low. The worry among economists is that the extra money in peopleâs pockets may make an already strong economy too strong, finally stoking inflation after a long period of relatively stable prices.
Source: The New York Times, July 14, 1999.
The passage describes rising inflation as a possible result of
Select one:
a. a booming economy.
b. rising unemployment.
c. tax cuts.
d. a prolonged period of stable prices.
| Annual Growth Rates of Real GDP Per Capita (in percents) | |||||||||||||
| Ending | |||||||||||||
| 1929 | |||||||||||||
| 1933 | -8.2 | ||||||||||||
| 1939 | 0.2 | ||||||||||||
| 1940 | 0.9 | ||||||||||||
| 1945 | 3.7 | 10.3 | |||||||||||
| 1950 | 2.4 | 4.1 | -1.8 | ||||||||||
| 1955 | 2.4 | 3.6 | 0.4 | 2.7 | |||||||||
| 1960 | 2.2 | 2.9 | 0.6 | 1.7 | 0.8 | ||||||||
| 1965 | 2.4 | 3.0 | 1.3 | 2.3 | 2.1 | 3.5 | |||||||
| 1970 | 2.3 | 2.9 | 1.5 | 2.3 | 2.2 | 2.9 | 2.3 | ||||||
| 1975 | 2.3 | 2.7 | 1.5 | 2.2 | 2.0 | 2.4 | 2.0 | 1.6 | |||||
| 1980 | 2.3 | 2.7 | 1.7 | 2.2 | 2.1 | 2.5 | 2.2 | 2.1 | 2.6 | ||||
| 1985 | 2.3 | 2.6 | 1.7 | 2.2 | 2.2 | 2.4 | 2.2 | 2.1 | 2.4 | 2.2 | |||
| 1990 | 2.3 | 2.6 | 1.8 | 2.2 | 2.2 | 2.4 | 2.2 | 2.2 | 2.4 | 2.2 | 2.3 | ||
| 1995 | 2.2 | 2.5 | 1.7 | 2.1 | 2.1 | 2.3 | 2.1 | 2.0 | 2.1 | 1.9 | 1.8 | 1.3 | |
| 2001 | 2.3 | 2.5 | 1.9 | 2.2 | 2.2 | 2.3 | 2.2 | 2.2 | 2.3 | 2.2 | 2.2 | 2.1 | 2.8 |
| 1929 | 1940 | 1945 | 1950 | 1955 | 1960 | 1965 | 1970 | 1975 | 1980 | 1985 | 1990 | 1995 | |
| Starting Year | |||||||||||||
Source: Economic Report of the President, various years.
This table keeps changes in real GDP from being overstated by adjusting for
Select one:
a. productivity.
b. inflation.
c. standard of living.
d. population growth.
Question 2
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| Per Capita GDP | |
| Luxembourg | $33,609 |
| United States | $33,586 |
| Switzerland | $27,126 |
| Japan | $23,311 |
| Iceland | $23,230 |
Economists use numbers such as those in the table as a measure of
Select one:
a. net exports.
b. total dollar value of all final goods and services.
c. national income.
d. standard of living.
Question 3
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| Per Capita GDP | |
| Luxembourg | $33,609 |
| United States | $33,586 |
| Switzerland | $27,126 |
| Japan | $23,311 |
| Iceland | $23,230 |
The numbers in this table were calculated by
Select one:
a. multiplying GDP by total population.
b. dividing GDP by total population.
c. adding the dollar value of all final goods and services produced in the nation.
d. subtracting net exports from GDP.
Question 4
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Marked out of 1.00
Flag question
Question text
| A key gauge of future U.S. economic activity declined 0.5% last month, as the Sept. 11 terrorist attacks in New York and Washington weakened an already troubled economy. The Conference Board said Monday its index of leading economic indicators fell to 109.2 in September,...the largest one-month decline since January 1996.... The index indicates where the overall U.S. economy is headed in the next three to six months.... The economy had been struggling for several months before the Sept. 11 attacks. Many economists have said they believe that a recession is unavoidable with the new uncertainties raised by the disaster. Source: âLeading Indicators Decline,â USAToday.com, October 22, 2001. |
The passage discusses a business fluctuation influenced by
Select one:
a. external shock.
b. monetary factors.
c. innovation.
d. capital expenditures.
Question 5
Not yet answered
Marked out of 1.00
Flag question
Question text
| For all the recent talk of cutting taxes, Congress rarely cuts them when the economy is growing robustly, as it is now, and unemployment is low. The worry among economists is that the extra money in peopleâs pockets may make an already strong economy too strong, finally stoking inflation after a long period of relatively stable prices.
|
The passage describes rising inflation as a possible result of
Select one:
a. a booming economy.
b. rising unemployment.
c. tax cuts.
d. a prolonged period of stable prices.
