Blog

Refer to Table 10-2. Using the table above, what is the approximate growth rate of real GDP from 2017 to 2018?

Minimum wage laws cause unemployment because the legal minimum wage is set

Potential GDP in the United States

Suppose that real GDP for 2017 was $10,000 billion and real GDP for 2018 was $9,500 billion. What is the rate of growth of real GDP between 2017 and 2018?

If the number of unemployed workers is 200 million, the number of employed workers is 300 million, and the working-age population is 800 million, what is the labor force participation rate?

If the number of unemployed workers is 200 million, the number of employed workers is 300 million, and the working-age population is 800 million, what is the labor force participation rate?

Which of the following increases labor productivity?

If GDP grew 3% in 1970, 2.2% in 1971 and 2.5% in 1972 then, what is the average annual growth rate over this period?

Use table 11-2 to answer the following question. Which country has the highest standard of living?

If the growth rate of real GDP rises from 3% to 4% per year, then the number of years required to double real GDP will decrease from