Asked by Demario Green on Apr 25, 2024
Which of the following can be concluded about the long-run performance of the U.S.economy?
A) It has been able to create employment opportunities but only at the cost of high inflation.
B) It has failed to generate sufficient aggregate demand in the economy.
C) It has been one of the most productive economies in the world in terms of growth in real GDP.
D) It has focused fiscal policies mostly at improving aggregate supply.
E) It has suffered from huge fiscal deficits that dampened economic growth.
Long-Run Performance
Refers to the sustained output and growth of an economy over an extended period, often analyzed to assess economic health and stability.
U.S. Economy
The economic system of the United States, characterized by a mixed economy with a substantial private sector and strategic government interventions.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced within a country in a specific period, reflecting the actual output.
- Understand the principal historic economic difficulties and their influence on economic conditions, including times of stagnation combined with inflation and major economic downturns.
- Comprehend the elements and importance of GDP and GDP per capita as indicators of economic health.
- Explore the influence of fiscal and monetary frameworks on inflation, the unemployment situation, and the general economic scenario.
Learning Objectives
- Understand the principal historic economic difficulties and their influence on economic conditions, including times of stagnation combined with inflation and major economic downturns.
- Comprehend the elements and importance of GDP and GDP per capita as indicators of economic health.
- Explore the influence of fiscal and monetary frameworks on inflation, the unemployment situation, and the general economic scenario.