If a country experiences a real GDP growth rate of 1 percent and population growth of 2 percent, then the growth rate of real GDP per person is
A) 3 percent.
B) 2 percent.
C) 1 percent.
D) -1 percent.
E) 0 percent.
D
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Refer to the table above, which gives five points on a nation's PPF. The opportunity cost of increasing the production of Y from 16 to 36 units is a total of
A) 1/5 unit of X per unit of Y. B) 2/5 unit of X per unit of Y. C) 1/2 unit of X per unit of Y. D) 3/5 unit of X per unit of Y.
The price paid for an option is called the
A) settlement price. B) mark-to-market price. C) option premium. D) call price.
If Jennifer withdraws $750 from her checking account and holds it as currency, then M1 will ________ and M2 will ________
A) decrease; not change B) not change; increase C) decrease; decrease D) not change; not change
Assume that the economy is presently in equilibrium. A decline in the interest rate
a. increases planned investment, aggregate demand, and equilibrium income. b. increases unplanned investment, reducing aggregate demand and equilibrium income. c. increases unplanned investment, increasing aggregate demand and equilibrium income. d. increases money demand, the money supply, aggregate demand, and equilibrium income.