In the Fourteenth Century It Is Estimated That Deaths Resulting

question 98

Multiple Choice

In the fourteenth century it is estimated that deaths resulting from the bubonic plague reduced the population by about a third.Assuming diminishing returns,the decrease in population should have

• A)increased productivity and real GDP per person.
• B)increased productivity but decreased real GDP per person.
• C)increased real GDP per person,but decreased productivity.
• D)decreased productivity and real GDP per person.

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Definitions:

Federal Government

The federal government refers to the national government of a country that is responsible for enacting and enforcing laws, collecting taxes, and managing the country’s affairs.

Defense Spending

Government expenditure on military forces and activities, including salaries, benefits, weapons systems, and operations.

Social Security

A government program that provides financial assistance to people with inadequate or no income, particularly the elderly, disabled, and families with dependent children.

Property Tax

A levy on property that the owner is required to pay, typically based on the value of the property.