Which Statement About the U.S. Economy Is FALSE

question 24

Multiple Choice

Which statement about the U.S. economy is FALSE?

• A) Since the Second World War, aggregate output has grown more slowly than the population.
• B) Since the Second World War, aggregate output has grown more rapidly than the population.
• C) Since the Second World War, macroeconomic policy has helped make the economy more stable.
• D) Long-run growth per capita is the key to higher wages and a rising standard of living.

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Definitions:

Probability

The quantification of the probability of an event happening, represented by a numerical value ranging from 0 to 1.

Total Income

The sum of all earnings or revenue generated by an individual or entity, including wages, investment returns, and other sources.

Wealth

The total value of all financial assets and physical possessions owned by an individual or entity, minus any liabilities owed.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values.