GDP per capita is:
A. the amount of GDP produced per unit of capital equipment.
B. GDP divided by the total population.
C. the amount of GDP produced by an individual state.
D. GDP multiplied by the total population.
B. GDP divided by the total population.
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An estimated regression coefficient is 10 with a standard error of 5. The null hypothesis is that the partial regression coefficient equals zero. What is the value of the t-statistic for testing the null hypothesis of the regression coefficient?
A) 1 B) 2 C) 0.5 D) 5
The marginal cost of labor for a perfectly competitive firm is given by:
a. the change in total revenue that results from employing an additional worker. b. the market wage rate. c. its marginal revenue product curve. d. the demand curve for labor. e. the marginal product of labor.
The "standard of deferred value" function of money means it is:
a. Unit in terms of which everything is valued and the basis for establishing relative prices between goods and services. b. Asset people can use to accumulate wealth. c. Barter value of a product for which a nation has a comparative advantage. d. Asset individuals get for goods and services and then use later to purchase other goods and services. e. The unit in terms of which people write contracts.
The current account includes which of the following?
a. all international transactions in currently produced goods and services b. net income from foreign assets c. net unilateral transfers d. all of the above are included in the calculation of the current account