Among the following countries, which one has the highest level of real GDP per person but the lowest growth rate of real GDP per person over a very long period of time?
a. the United Kingdom
b. Mexico
c. Argentina
d. China
a
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Which of the following statements is FALSE?
A) The value of one more unit of a good is the good's marginal benefit. B) A good's marginal benefit is the maximum price people are willing to pay for another unit. C) The maximum price people are willing to pay for one more unit of a good is its value. D) None of the above because all the statements are true.
If we wanted to analyze the effects of a $2 unit tax graphically, we would shift the
A) supply curve upward by $2. B) supply curve downward by $2. C) demand curve upward by $2. D) demand curve downward by $2.
A perfect-price-discriminating monopoly maximizes social welfare as measured by the sum of producer surplus plus consumer surplus
What will be an ideal response?
If taxes are reduced, will most people save more or less than before? Does national saving rise or fall? Explain
What will be an ideal response?