In 2014, real GDP per person in Bangladesh was
a. about 3 times as high as it was in the U.S. in 1870.
b. about twice as high as it was in the U.S. in 1870.
c. about the same as it was in the U.S. in 1870.
d. less than it was in the U.S. in 1870.
d
You might also like to view...
Answer the following statements true (T) or false (F)
1. The production function relates outputs to inputs. 2. The marginal product is the increase in output per additional unit of input. 3. The marginal product decreases, reaches a minimum, and then rises as output increases. 4. As long as the marginal product is falling, the average product falls. 5. The average product decreases any time the marginal product is decreased.
In an economy where the poorest quintile of the population receives 5 percent of the income, the Lorenz curve:
a. is the diagonal of the box. b. lies below the diagonal in the box. c. lies above the diagonal in the box. d. is the lower right corner of the box. e. is the upper left corner of the box.
If FICA takes the same percentage rate of everyone’s pay, how can it take a higher proportion of the income of lower earners?
a. Lower earners have to pay the full amount, whereas higher earners’ employers pay half. b. The income from which FICA is taken is capped, so higher earners are not taxed on earnings above that amount. c. Lower earners are required to pay FICA during the year, and again as part of income taxes at the end of the year. d. FICA is only taken from hourly wages, so salaried workers, who usually earn higher incomes, do not have to pay it.
Suppose that the nominal interest rate and expected inflation both decrease by 2%. Given this information, we would expect which of the following to occur?
A) an increase in the real interest rate B) a reduction in the real interest rate C) a reduction in investment D) an increase in money demand E) both A and C