(Scenario: Growth Rates) Look at the scenario Growth Rates. According to the rule of 70, how large will China's real GDP per capita be in 20 years?
What will be an ideal response?
$16,000
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An American tourist in the Netherlands buys tulips from a local producer. This is an example of a(n) ________ by the tourist
A) transfer payment B) import C) export D) foreign direct investment
Unemployment that occurs from fundamental technological changes in production, or from the substitution of new goods for customary ones, is known as
a. underemployment b. seasonal unemployment c. frictional unemployment d. structural unemployment e. cyclical unemployment
A student bought a used car for $10,000 and resold it one year later for $6,500 . Insurance, license, and operating costs for the year were $1,500 . What was his economic cost of owning and operating the car for the year if the market rate of interest was 10 percent?
a. $3,500 b. $5,000 c. $6,000 d. $8,500
The convergence theory is based on the idea of:
A. increasing rates of income per capita. B. decreasing income per capita. C. increasing opportunity costs. D. decreasing marginal returns.