During the last 50 years, which of the following had the lowest level of real GDP per person?
A) Africa
B) Central and South America
C) United States
D) Central Europe
A
You might also like to view...
Someone who is risk-averse has
A) diminishing marginal utility of wealth. B) constant marginal utility of wealth. C) increasing marginal utility of wealth. D) less marginal utility of wealth than someone who is risk-neutral.
Suppose the market demand function in a certain market where Q is measured in thousands of units is Qd = 20 - 2.5P, and the market supply function is Qs = 2.5P - 7.5. How much deadweight loss would there be in this market if the quantity bought and sold was 5,000 units?
A. $0.63 B. $62.50 C. $625 D. $6,250
A movement up the aggregate supply curve is caused by a(n)
A. decrease in the price level. B. increase in aggregate supply. C. increase in the price level. D. decrease in aggregate supply.
If the market price for a crop is $4.00 a bushel, and the price support is $3.00, then raising the price support to $3.50
A. will cause the price paid by consumers to rise. B. will cause the price received by farmers to fall. C. will cause nothing to happen. D. will cause the price received by farmers to rise.