Which of the following statements is correct?
a. In the late 1800s, real GDP per person was higher in the United Kingdom than in the United States.
b. In 2014, real GDP per person was higher in the United Kingdom than in the United States.
c. The average annual growth rate of real GDP was higher in the United Kingdom than in the United States between the late 1800s and 2014.
d. All of the above are correct.
a
You might also like to view...
How has U.S. real GDP per person changed over the last 100 years?
What will be an ideal response?
A large government budget deficit ________ government saving and ________ national saving
A) raises, raises B) raises, lowers C) lowers, raises D) lowers, lowers
Which of the following goods is not excludable and not rival in consumption?
a. fish in the ocean b. tickets to a professional basketball game c. a tornado siren d. a premium television channel
A fixed factor of production:
A. is fixed in the long run but variable in the short run. B. is common in large firms but rare in small firms. C. is fixed in both the short run and the long run. D. is fixed only in the short run.