The growth rate of real GDP per person equals the
A) population growth rate plus the growth rate of real GDP.
B) change in the economic growth rate divided by the change in the population growth rate.
C) the economic growth rate per person divided by the change in the population growth rate.
D) growth rate of real GDP minus the growth rate of the population.
E) population growth rate plus the growth rate of real GDP then divided by the initial level of real GDP.
D
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The egalitarian principle refers to
A) "To each according to her need." B) "To each exactly the same." C) "To each according to her productivity." D) "To each according to his ability."
A large number of U.S. firms send jobs to low-wage nations as it enables them to:
a. raise the price of their products. b. reduce their cost of production. c. get better quality products. d. obtain diversified products. e. politically dominate the economies where they are offshoring.
The large-number-of-sellers condition of perfect competition is met when
A. there are more sellers than buyers in the market. B. there are more than 50 firms in the industry. C. there are more than 100 firms in the industry. D. each firm is so small relative to the total market that no single firm can influence the market price.
Cost-push inflation is due to:
A. "too much money chasing too few goods". B. the economy operating at full employment. C. increases in production costs. D. excess total spending.