During 2013, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2012, real GDP was 105 billion and the population was 0.85 billion. Economia's growth rate of real GDP per person is
A) 3.23 percent.
B) 5 percent.
C) 5.88 percent.
D) 9.52 percent.
A
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In the expectations-augmented Phillips curve, ? = ?e - 3(u - 0.06). When ? = 0.06 and ?e = 0.03, the unemployment rate is
A) 0.04. B) 0.05. C) 0.06. D) 0.07.
The slope of the output per worker function is equal to the
A) marginal product of capital. B) marginal product of labor. C) savings rate. D) growth rate of the population.
The farm revolt (Populism) led ultimately to all of the following changes in society except
(a) Universal public education (b) Women's suffrage (c) Secret ballots (d) The vote for working men
When raising taxes, the price effect tells us that the:
A. higher tax rate causes fewer units to be sold. B. government gets more revenue per units sold. C. government gets less revenue per unit sold. D. higher tax rate causes more units to be supplied.