Exam 10: Economic Growth, the Financial System, and Business Cycles

Between 1950 and 2009,the average length of recessions in the United States was

If an economy is growing at a rate of 2.5% per year,how long will it take the economy to double in size?

An increase in public saving has what impact on the market for loanable funds?

Potential GDP is defined as

The Business Cycle Dating Committee defines a recession as

Since 1950,

The key to sustained economic growth is increasing labor productivity.

Economist Steve Landsburg has pointed out that Ebenezer Scrooge's change in behavior from miser to spender might actually be detrimental to the economy because

Use the rule of 70 to illustrate how small differences in growth rates can have a large impact on how rapidly the standard of living in a country increases.

How does a decrease in the tax rate on income earned on saving affect saving,investment,the interest rate,and economic growth?

During the expansion phase of the business cycle,

Which of the following is not one of the key services provided by the financial system?

If,between 2001 and 2011,the economy's real GDP grew from $20 billion to $40 billion,what was the average annual growth rate in the economy?

If GDP is currently $13 trillion and is growing at a rate of 2.3% per year,how long will it take GDP to reach $26 trillion?

A period of expansion in the business cycle ends when

In an open economy,the relationship between GDP (Y)and expenditures is Y = C + I + G.

If technological change increases the profitability of new investments for firms,then the ________ curve for loanable funds will shift to the ________.

The rule of 70 states that

Using the market for loanable funds,which of the following has the potential to raise the real interest rate?

Which one of the following is not considered a financial intermediary?