Per capita GDP will definitely rise if

A. The rate of economic growth is less than the rate of population growth.
B. The population falls and GDP does not fall.
C. There is a decrease in the size of the working population.
D. The rate of economic growth falls.


Answer: B

Economics

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The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 200 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What is the inverse demand function for coal miners?

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The Phillips Curve shows the trade-off between

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Economics