If Population Grows Faster Than GDP, Then Per Capita GDP

question 33

True/False

If population grows faster than GDP, then per capita GDP must fall.

Understand the significance and outcomes of major rebellions and judicial decisions in the early United States, including their influence on federalism, states' rights, and civil liberties.

Understand the impact and motivations behind the Embargo Act of 1807.

Identify the factors that contributed to the United States entering the War of 1812.

Recognize Jefferson's contradictions between his policies and his philosophy on government.

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Definitions:

Liquidity Trap

At very low interest rates, said John Maynard Keynes, people will neither lend out their money nor put it in the bank, but will simply hold it.

Liquidity Trap

A situation in which interest rates are low and savings rates are high, rendering monetary policy ineffective in stimulating economic growth.

John Maynard Keynes

A British economist whose innovative ideas transformed the approach to macroeconomics and influenced governmental economic policies.

John Maynard Keynes

A UK-based economist whose theories revolutionized both the practice and understanding of macroeconomics as well as state economic policies.