If real GDP is increasing more rapidly than population:
a. population must be declining.
b. the country will have to export more than it imports.
c. the general level of prices must be increasing.
d. per capita real GDP will be increasing.
d
You might also like to view...
Current account is given by the equation:
A) CA = IM - EX (measured in terms of domestic output). B) CA = IM - EX (measured in terms of foreign output). C) CA = EX - IM (measured in terms of domestic output). D) CA = EX - IM (measured in terms of foreign output). E) CA = EX + IM (measured in terms of domestic output).
Which of the following statements about full employment is correct? I. Full employment means that the unemployment rate is less than 1/2 of 1 percent. II. Full employment means that the transaction costs associated with getting a job are zero
A) I only B) II only C) Both I and II D) Neither I nor II
The exchange rate states the price, in terms of one currency, at which another currency can be bought
a. True b. False Indicate whether the statement is true or false
The market mechanism
A. Works through central planning by government. B. Eliminates market failures created by government. C. Works because prices serve as a means of communication between consumers and producers. D. Is not a very efficient means of communicating consumer demand to the producers of goods and services.