If the real U.S. GDP was $10 trillion in 2000 and the U.S. population was 280 million, the per capita real GDP would have been closest to
A. $35,714 per person.
B. $28,000 per person.
C. $2,800 per person.
D. $5,000 per person.
Answer: A
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Compare and contrast the world population with that of the United States. Is the United States becoming a larger or a smaller part of the world's population?
What will be an ideal response?
The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. If Light-U-Up is regulated, what is its economic profit if it must follow an average cost pricing rule?
A) -$60 B) -$20 C) $0 D) $30
Which of the following does not constitute a household consumption item?
a. A pair of jeans b. A bottle of Beck's beer c. A haircut d. A steam turbine electric generator e. A packet of breakfast cereal
If we consider the equation PAE = A + bY the independent part of the equation that depends on income is:
A. b B. Y C. A D. PAE