Use the following table shows values of annual real GDP per capita over time. Use it to answer the next question.1810$1,5001860$2,1001910$3,9001960$18,0002010$43,600What was the change in real GDP per capita between 1810 and 2010?
A. $43,600
B. $42,100
C. $69,100
D. $45,100
Answer: B
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Which of the following is NOT an assumption of the classical model?
A) Wages and prices are flexible. B) People are motivated by self-interest. C) Money illusion exists. D) Pure competition exists.
Which of the following is most likely produced in a monopolistically competitive market?
a. restaurant meals b. computer chips c. firewood d. motorcycles e. soft drink
Those who believe that overall economic growth is more important than the distribution of income would say that:
A. if the society is not getting richer, then things can never become more equal. B. it is fundamentally unjust for some people to have so much when others have so little. C. if everyone is getting richer, the relative speed of these gains isn't as important. D. All of these are true.
During the worldwide recession of 2007-2009,
A) the Fed and the European Central Bank worked together. B) all countries coordinated macroeconomic policies. C) nations sacrificed some sovereignty. D) the IMF coordinated world economic policies.