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
You might also like to view...
Explain why even owners of capital that cannot be moved can avoid more of the economic stability loss due to fixed exchange rates when Norway's economy is open to capital flows
What will be an ideal response?
The existence of a monopoly:
A. creates a gain of total surplus. B. benefits the consumer. C. benefits the monopolist. D. creates more consumer surplus.
An example of human capital is the purchase of a computer to help accountants
a. True b. False Indicate whether the statement is true or false
The monopolistically competitive firm differs from monopoly in that its
a. demand curve is flatter. b. demand curve slopes downward. c. MR curve lies below its demand curve. d. profit is maximized where MR = MC.