The statement is True. According to the Solow growth model, all countries will converge toward the same level of GDP per worker if given enough time.
GDP can be calculated by way of including up all of the cash spent via customers, corporations, and the authorities in a given duration. it could also be calculated by using including up all of the money received by means of all of the members inside the financial system. In both cases, the number is an estimate of "nominal GDP."
Gross home product is the economic degree of the market cost of all the final items and services produced in a selected time period by using international locations. due to its complicated and subjective nature, this degree is regularly revised earlier than being considered a dependable indicator.
GDP isn't a measure of “wealth” in any respect. it's miles a measure of income. it is a backward-searching “go with the flow” measure that tells you the cost of goods and services produced in a given duration within the past. It tells you nothing about whether you could produce the same quantity again the subsequent yr.
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Answer:
The labor force is made up of the employed and the unemployed. The remainder—those who have no job and are not looking for one—are counted as not in the labor force. Many who are not in the labor force are going to school or are retired. Family responsibilities keep others out of the labor force.
Explanation:
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This is a very important part of the American political structure because it ensures that, where the United States Constitution grants power to the national government, laws enacted by that national government outrank – or take precedence – over laws enacted by state governments
Direct Democracy is a form of democracy in which the poeple themselves, rather than elected representatives, determine the laws and policies by which they are governed.
