Which of the Following Statements Is TRUE

question 67

Multiple Choice

Which of the following statements is TRUE?

• A)In the past century, the population of the United States has grown faster than output.
• B)Long-run growth models and business cycle models are the same.
• C)Since World War II, the economy of Argentina has grown faster than the economy of Canada.
• D)The level of saving is important for long-run growth.

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Definitions:

Government's Role

The duties and activities undertaken by a government to regulate and guide the economy, society, and national defense.

Government Expenditure

The total amount of money spent by a government within a certain period, including spending on public services, welfare, and infrastructure.

Social Security Pensions

Government-provided benefits paid to eligible retirees or disabled individuals as part of a national social insurance program.

Average Tax Rate

The percentage of total income that is paid in taxes, calculated by dividing the total tax paid by the taxpayer's total income.