Nation A's real GDP was $520 billion in 2013 and $550 billion in 2014. Its population was 150 million in 2013 and 155 million in 2014. On the other hand, Nation B's real GDP was $200 billion in 2013 and $210 billion in 2014; and its population was 53 million in 2013 and 55 million in 2014. Which of the following statements is true?
A. Nation A's GDP per capita increased from 2013 to 2014, while Nation B's decreased
B. Nation B's GDP per capita increased from 2013 to 2014, while Nation A's decreased
C. Nation A's and Nation B's GDP per capita both decreased from 2013 to 2014
D. Nation A's and Nation B's GDP per capita both increased from 2013 to 2014
D. Nation A's and Nation B's GDP per capita both increased from 2013 to 2014
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Assume that the dollar price of a basket of goods in the U.S. is $3 and the dollar price of a basket of goods in China is $5. On the other hand, the yuan price of the basket in the U.S. is 20 yuan
Given this information, the yuan price of the Chinese basket is: A) 30.50 yuan. B) 33.33 yuan C) 105.50 yuan D) 26.50 yuan.
The purchase of U.S. government bonds by Egyptians is an example of
a. U.S. imports. b. U.S. exports. c. foreign portfolio investment by Egyptians. d. foreign direct investment by Egyptians.
One small country has seen strong economic growth over the past few years. Which choice did its leaders most likely make ten years ago to put the country in this position?
a. They invested more and consumed less. b. They consumed more and invested less. c. They produced more consumption goods. d. They stopped acquiring capital goods.
The cross price elasticity of demand for a good x is the percentage change in the quantity demanded of good x in response to a given percentage change in
A) income. B) the price of good x. C) the price of good y. D) the quantity demanded of good y.