Small Differences in Annual Growth Rates of Real GDP Generate

question 40

Multiple Choice

Small differences in annual growth rates of real GDP generate large differences in real GDP over time because of the:

• A)importance of average labor productivity.
• B)power of compound interest.
• C)diminishing returns to capital.
• D)limits of economic growth.

---

Definitions:

Formal Authority

The power granted to an individual due to their position or role within an organization, enabling them to make decisions and enforce rules.

Participative Leadership

A leadership style in which the leader involves team members in decision-making processes and goal setting, fostering a sense of ownership and collaboration.

Warren Bennis

was a pioneering leadership scholar and author who contributed significantly to the study of leadership, emphasizing the importance of character, creativity, and adaptive capacity in leaders.

Philip Slater

was an American sociologist and playwright known for his work on social structure and dynamics, particularly in relation to modern American society.