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.
No comments:
Post a Comment