Which of the following would be accounted for by real GDP per capita, but not by real GDP?
a. Even though a country’ s nominal GDP has increased, its economy has declined.
b. A country has an inflation rate of 50 percent from 2010 to 2015.
c. The population of a country increases 30 percent in five years.
d. A country has an economic downturn from 2000 to 2010.
c. The population of a country increases 30 percent in five years.
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Why are some insurance companies interested in programs for nationwide disaster insurance for floods, earthquakes, and hurricanes?
What will be an ideal response?
Perfectly competitive firms will sometimes operate even though they incur an economic loss in the short run
Indicate whether the statement is true or false
Which of the following are necessary components of a normative statement?
a. objective; testable b. subjective; contestable c. objective; contestable d. subjective; testable
Which of the following is best characterized as a public good?
A. a public library B. primary education C. police protection D. a church