Belgium's real GDP per person is $33,000 and Austria's is $34,700. The population growth rate in Belgium is 0.13 percent and the growth rate of real GDP is 3.0 percent
The population growth rate in Austria is 0.08 percent and the growth rate of real GDP is 3.3 percent. If these growth rates continue, how many years will it take for Belgium's real GDP per person to equal Austria's real GDP per person?
A) Belgium's standard of living will never equal Austria's.
B) just over 23 years
C) just over 24 years
D) just over 21 years
E) over 230 years
A
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Political creative destruction is likely to be opposed:
A) equally in all types of economies. B) more in a market economy than in a command economy. C) more in an economy with inclusive institutions than in an economy with extractive institutions. D) less in an economy with inclusive institutions than in an economy with extractive institutions.
If the number of laborers is 200 and the capital stock is $20,000 . the capital-labor ratio is
a. $1/100 b. $100 c. $20,100 d. $4,000,000 e. $19,900
People who buy newly issued stock in a corporation such as Crate and Barrel provide
a. debt finance and so become part owners of Crate and Barrel. b. debt finance and so become creditors of Crate and Barrel. c. equity finance and so become part owners of Crate and Barrel. d. equity finance and so become creditors of Crate and Barrel.
Assume that the United States imposes a quota on Italian shoes. Relative to the equilibrium world price that would exist in the absence of quotas, the equilibrium price of shoes in the United States will most likely _______ , and the equilibrium price of shoes in Italy will most likely _______ .
A) increase; decrease B) decrease; remain the same C) decrease; increase D) increase; remain the same