Why is China still poor in per capita terms despite having the second-largest economy in the world in terms of real GDP?
China has over 1 billion people. The huge population explains the low per capita income despite having the second-largest economy in the world.
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In the Nash equilibrium of a prisoner's dilemma:
A. there is unrealized opportunity for both to gain. B. both players have equal payoffs. C. there is no cash left on the table. D. total economic surplus is maximized.
Autonomous expenditure is a type of expenditure that does not depend on
A) GDP. B) wealth. C) expectations. D) rates.
A business cycle is the...
What will be an ideal response?
Why do free trade proponents dislike rules of origin in trade agreements?
A. It decreases the amount of international trade in the world. B. It decreases incentives for trade diversion. C. It increases the amount of international trade in the world. D. It increases incentives for trade deflection.