The per capita real GDP is the
A) rate of growth in real GDP plus the population growth rate.
B) real GDP divided by the population.
C) rate of growth in real GDP times the population growth rate.
D) rate of growth in real GDP minus the population growth rate.
B
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Households receive transfers from ________, and firms receive transfers from ________
A) firms; households B) government; government and households C) government; no one D) firms and government; government E) government; government
Frictional, structural and cyclical unemployment are three classifications of unemployment
Indicate whether the statement is true or false
The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. For a consumer, the price they are willing to pay for each additional pound of coffee is
A) always less than the economy's marginal social cost of producing that additional pound. B) equal to their own marginal benefit from consuming that additional pound. C) equal to their consumer surplus. D) Both answers B and C are correct.
The following input-requirements data are for Country A, a capital-abundant country that produces nothing but bread and wine using only capital and labor as inputs. 1 Pound of Bread1 Gallon of WineCapital Input5 units20 unitsLabor Input4 units10 units Following the opening of trade, Country A would probably
A. import both goods. B. export bread and import wine. C. export both bread and wine. D. export wine and import bread.