If the population increase in India is smaller than the increase in Indian real GDP, then GDP per capita will
A. decrease.
B. increase.
C. remain constant.
D. increase more slowly than real GDP.
Answer: B
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At the start of a cost-push inflation,
A) the price level rises and real GDP does not change. B) the price level remains constant and real GDP increases. C) the price level rises and real GDP decreases. D) the price level remains constant and real GDP decreases. E) the price level and real GDP both increase.
Convergence means that
A) if poor countries grow fast, then fast growing countries are poor. B) all countries grow at the same rate. C) all countries tend towards the same per capita income. D) the savings rate is positively related to per capita income.
The Federal Reserve's long standing tools include
A. changing the reserve ratio. B. open market operations. C. changing the level of the targeted interest rate. D. all of these options are correct.
In the above figure, moving from producing 50 guitars and 50 ukuleles to producing 25 guitars and 75 ukuleles, the opportunity cost of one ukulele is
A) 25 guitars.
B) 75 ukuleles.
C) 25 ukuleles.
D) 1 guitar.