H8 One factor that has contributed to U.S. economic growth, since World War 2, has been increases inthe percentage of the population that has attended college. Economists might describe thissituation as an example of growth achieved partly throughO increases in the labor force.O accumulation of human capital.O technological progress.O expansionary fiscal policy.O reduced resource costs.D.Question 4The United States has been able to run international trade deficits, year after year, becauseO foreigners from around the world have been willing to lend to us, and to purchase our financial and physicalassets, year after year.O the quality of U.S. produced goods has been persistently higher than the quality of comparable foreign-produced goods.O the United States has a large line of credit from the International Monetary Fund, and it has been increasingits debt to the Fund year after year.O the Federal Reserve System has lent large amounts of newly created money to U.S. importers, year after year.O wage rates in foreign countries have consistentlv been lower than U.S. wage rates.

Increase in percentage of population that has attended colleges means increase in the general…

Answered: The United States has been able to run…

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The United States has been able to run international trade deficits, year after year, because

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Open-Economy Macroeconomics: Basic Concepts

Section: Chapter Questions

Problem 3QCMC

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a. What do you understand by Real GDP? What is the Real GDP Growth Rate of India andChina in 2019? What is the estimated real GDP growth rate of India and China in 2020?What is the projected real GDP growth rate of India and China in 2021 and 2022? b. What is the estimated 2022 GDP Loss (in percentage) in comparison to pre-covid levels(January 2020 forecast) in China and Other Emerging Economies in Asia other thanChina
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