Average GDP per person is
A. A measure of the economic growth rate of a country.
B. Also known as per capita GDP.
C. Also known as GDP.
D. The value of the factors of production used to produce output in a country.
Answer: B
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In the above figure, when the interest rate is 8 percent and household income is $40,000, household consumption is
A) $0. B) $20,000. C) $35.000. D) $60,000.
Beginning in 2008, The Federal Reserve and the U.S. Treasury Department responded to the financial crisis by intervening in financial markets in unprecedented ways. Briefly summarize the actions of the Fed and Treasury
What will be an ideal response?
The more we pay for a euro, the __________ European goods are to us and the __________ European assets are to us
A) cheaper; cheaper B) cheaper; more expensive C) more expensive; cheaper D) more expensive; more expensive
Other things equal, when the real interest rate rises, C, I and NX ________ and real GDP will ________ relative to potential GDP
A) decrease; decrease B) decrease; increase C) increase; increase D) increase; decrease