Which of the Following Statements Is Correct

question 218

Multiple Choice

Which of the following statements is correct?

• A) Between 1953 and 2018, all growth in U.S. real GDP can be attributed to increases in labor productivity.
• B) Between 1953 and 2018, increases in labor productivity account for more of the growth in U.S. real GDP than do increases in the quantity of labor.
• C) Between 1953 and 2018, increases in the quantity of labor account for more of the growth in U.S. real GDP than do increases in labor productivity.
• D) Between 1953 and 2018, increases in labor productivity and increases in the quantity of labor contributed equally to the growth in U.S. real GDP.

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Definitions:

Compounded Semi-annually

Interest calculation method where interest is added to the principal twice a year, allowing the interest to grow faster than simple interest.

Savings Plan

A systematic approach to setting aside funds to reach financial goals.

Investments

Funds committed into various financial instruments or assets with the expectation of generating income or profit.

Compounded Monthly

Interest that is calculated on the principal and the accumulated interest every month.