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Wednesday, October 28, 2009

If the rate of economic growth for the U.S. economy in a given year,?

If the rate of economic growth for the U.S. economy in a given year, measured by the percentage increase in real GDP, was 4%,



(a) inflation that year was also 4%.



(b) the unemployment rate that year was also 4%.



(c) aggregate nominal income grew by 4% that year.



(d) aggregate real income also grew by 4% that year.



(e) aggregate real income didn%26#039;t grow at all that year



If the rate of economic growth for the U.S. economy in a given year,?debt consolidation loan





The answer is d. Real GDP is the national income in real terms. Thus, aggregate real income also grew by 4% that year.

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