The population of Omega totals one million people, 30 percent of whom are employed. Average output per worker in Alpha is $30,000. Real GDP per person in Alpha totals:
A. $9,000.
B. $100,000.
C. $21,000.
D. $30,000.
Answer: A
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The bank's statement of liabilities (what it owes) and assets (what it owns) is known as the
a. legal reserve requirement b. fractional reserve system c. federal funds rate d. money creation account e. balance sheet
An appreciation of the U.S. dollar against foreign currencies tends to __________ U.S. net exports and shift the U.S. AD curve to the __________
A) raise; right B) raise; left C) lower; right D) lower; left
In a short-run macroeconomic equilibrium, real GDP exceeds potential GDP, so the
What will be an ideal response?
Refer to the graph. If the initial equilibrium interest rate was 5 percent and the money supply increased by $100 billion, then the new interest rate would be:
A. 1 percent
B. 2 percent
C. 3 percent
D. 4 percent