Which of the following does not correlate positively with economic growth?
A. Output per capita.
B. Life expectancy.
C. The percentage of the population engaged in agriculture.
D. The literacy rate.
C. The percentage of the population engaged in agriculture.
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The income approach to measuring GDP is based on summing
A) the values of final goods, intermediate goods and services, used goods, and financial assets. B) the production of each industry. C) consumption expenditure, investment, government expenditures on goods and services, and net exports of goods and services. D) wages, interest, rent, and profits. E) consumption expenditure and wages.
The law of diminishing marginal utility states that marginal utility must diminish after the first unit of consumption of every good or service
a. True b. False Indicate whether the statement is true or false
When the price level rises as a result of a decrease in aggregate supply, it is called cost-push inflation
a. True b. False Indicate whether the statement is true or false
What percentage of the world population lives in low-income countries?
a. 10 percent b. 11.8 percent c. 15 percent d. 20 percent