Looking at U

question 117

Multiple Choice

Looking at U.S. economic history between 1964 and 2009, we see that growth in real GDP

• A) was not correlated with fluctuations in productivity growth.
• B) falls following an increase in productivity growth.
• C) rises following an increase in productivity growth.
• D) rises following a decrease in productivity growth.

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Definitions:

Effective

Producing a decided, decisive, or desired effect, often used to describe rules, policies, or products that achieve their goals.

Lefkowitz V. Great Minneapolis

A landmark case in contract law where it was ruled that an advertisement giving specific details to the public constitutes a binding offer which when accepted completes a contract.

Advertisement

Public communication that promotes the features, advantages, and qualities of a product, service, or brand.

Offer

A key factor in the agreement element of a contract; consists of the terms and conditions set by one party, the offeror, and presented to another party, the offeree.