Assume that average labor productivity is the same in each country. Based on the information in the table, which country has the smallest real GDP per capita?CountryPopulation (millions)Share of Population Employed (%)A10060B15055C7550D25045E9540
A. Country B
B. Country D
C. Country A
D. Country E
Answer: D
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One key characteristic that is distinctive of an oligopoly market is that:
A. the demand curve facing each firm is downward sloping, with a marginal revenue curve that lies below the firm's demand curve. B. the decisions of one seller often influences the price of products, the output, and the profits of rival firms. C. there is only one firm that produces a product for which there are no good substitutes. D. there are many sellers in the market and each is small relative to the total market.
Maximizing the lifetime value of the firm is equivalent to maximizing the firm's current profits if the:
A. growth rate of profits and the interest rate are equal. B. interest rate is larger than the growth rate in profits and both are constant. C. interest rate is smaller than the growth rate of profits. D. growth rate in profits is constant and is larger than the interest rate.
If a local government gives out water filters to low-income families free of charge, the water filters are:
A. public goods. B. private goods. C. external goods. D. spillover goods.
Without a copyright, the high fixed costs of textbook creation
A. would be lower. B. would be more easily recoverable. C. would be higher. D. would be nearly impossible to recover.