Because of the Power of Compounding, Output Per Hour Has

question 138

Multiple Choice

Because of the power of compounding, output per hour has jumped more than _____ since 1870.

• A) 500 percent
• B) 1000 percent
• C) 2000 percent
• D) 2500 percent
• E) 3000 percent

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Definitions:

APS

Average Propensity to Save, the fraction of income that is saved rather than spent on consumption goods.

APC

This stands for Average Propensity to Consume, which is the percentage of income that an individual or population spends rather than saving.

APS

Average Propensity to Save; it is a macroeconomic term that represents the proportion of income that is saved rather than spent on consumption. It is calculated by dividing total savings by total income.

APC

Average Propensity to Consume, which is the fraction of income that a person or population spends rather than saving.