During 2014, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2013, real GDP was 105 billion and the population was 0.85 billion. In 2014, real GDP per person was
A) $128.
B) $124.
C) $135.
D) $117.
A
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According to economic theory, social interactions are the result of
A) calculated choices by individuals B) chance and the laws of probability. C) genetic and environmental factors. D) random occurrences.
The trend in recent years is that more and more governments
A) have been granting greater independence to their central banks. B) have been reducing the independence of their central banks to make them more accountable for poor economic performance. C) have mandated that their central banks focus on controlling inflation. D) have required their central banks to cooperate more with their Ministers of Finance.
The Consumer Price Index (CPI) measures inflation for every individual
A) True, the weights used in calculating the CPI are adjusted for every individual in the country. B) True, people all face the same prices and therefore face the same inflation. C) False, the CPI uses weights based on how much each product represents in the typical household budget. D) False, the CPI doesn't measure inflation.
A capital gain is the increase in value of an asset above its initial cost.
Answer the following statement true (T) or false (F)