In the Long Run, the Growth in Real GDP Is

question 19

Multiple Choice

In the long run, the growth in real GDP is determined by

• A)fiscal policy.
• B)monetary policy.
• C)both fiscal and monetary policy.
• D)the growth of labor, capital, and productivity.

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Definitions:

Population Parameters

Characteristics that summarize or describe aspects of a population, such as mean, variance, or median.

N - 1 Adjustment

A statistical method used to correct the bias in the variance estimate of a sample.

Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of data values.

Scores

Quantitative values assigned to individuals or items for the purpose of evaluation or measurement.