If population growth is less than output growth for a country,
A. The per capita living standard will increase.
B. Real GDP has decreased.
C. GDP must have fallen at a fairly rapid rate.
D. Average living standards will decrease.
Answer: A
You might also like to view...
Which of the following is NOT a reason given by economists for the failure of Okun's law to account for the rise in unemployment during the recession of 2007-2009?
A) increased willingness among firms to lay off workers during recessions B) a surge in productivity during the recession C) the unusual severity of the recession D) it does not take into account the effect of the stimulus
Scarcity:
a. is a problem only in the poorer countries of the world. b. can be solved by rapid advances in technology. c. is a problem that exists in every economy. d. is not a problem for the very rich.
Which of the following is not included in M1?
a. currency b. demand deposits c. savings deposits d. traveler's checks
The factor of production called "capital" refers to:
A. any input that's not a human being or dirt. B. any piece of raw material that is used to produce goods and services. C. the amount of money a firm has access in order to run its business. D. manufactured goods that are used to produce new goods.