Which of the Following Is True

question 72

Multiple Choice

Which of the following is true?

• A)The Rule of 70 says that the number of years necessary for a nation to double its output is approximately equal to the nation's growth rate divided by 70.
• B)Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita.
• C)An increase in labor input necessarily increases output per capita.
• D)Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base.
• E)None of the above is true.

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Definitions:

Scarcity

The economic principle that describes the limited availability of resources compared to the theoretically limitless wants and needs of individuals.

Dissonance

A state of mental conflict or inconsistency, often used to describe the tension arising from holding contradictory beliefs or attitudes.

Normative Influence

The pressure to conform to the expectations or norms of a group, influencing individuals to act in ways that are accepted by their social group.

Social Proof

A tendency to conform to what we believe respected others think and do.