Suppose That Alpha's Real Output Rose from $400 Billion in Year

question 212

Multiple Choice

Suppose that Alpha's real output rose from $400 billion in year 1 to $428 billion in year 2. Its growth rate for this period was

• A) 14 percent.
• B) 12 percent.
• C) 9 percent.
• D) 7 percent.

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Definitions:

Ethanol Mandates

Governmental regulations requiring a certain percentage of ethanol to be blended with gasoline.

Gasoline

A refined petroleum product used as fuel in internal combustion engines.

Destroy Wealth

Activities or decisions that lead to a decrease in the financial value or assets of an individual, company, or economy.

Labor

The human effort, whether physical or mental, used in the production of goods and services.