The Rate of Growth of Output Per Worker in the United

question 21

Multiple Choice

The rate of growth of output per worker in the United States between 1985 and 2014 was approximately equal to which of the following?

• A)1.7%
• B)3.8%
• C)4.8%
• D)5.8%

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Definitions:

Externalities

Economic side effects or by-products that affect an uninvolved third party; can be positive or negative, such as pollution or public parks.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are accessible to all members of society and one person's consumption does not reduce availability to others.

Externalities

Costs or benefits arising from an economic activity that affect third parties who did not choose to incur that cost or benefit.

Economic Outcomes

The results or consequences of particular economic policies, decisions, or activities on the overall economy.