The Long-Run Growth Rate of Real GDP Depends Primarily on the Growth

question 80

True/False

The long-run growth rate of real GDP depends primarily on the growth in the number of hours worked and the growth rate of labor productivity.

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Definitions:

Concept

A symbol that represents a class of objects or events with common characteristics.

Phoneme

A phoneme is the smallest unit of sound in a language that can distinguish one word from another, such as the difference between the 'p' and 'b' sounds in "pad" and "bad".

Association

The linkage of two events, usually as the result of a specific experience.

Positive Explanatory Styles

A cognitive approach characterized by attributing positive events to stable, global, and internal factors, and negative events to unstable, specific, and external factors.