The best measurement for comparing the standard of living between two countries is:
A. The ratio of current GDP to GDP in the base period.
B. GDP per capita.
C. Investment as a percentage of GDP.
D. GDP per worker.
B. GDP per capita.
You might also like to view...
Deadweight loss measures the inefficiency as the loss of
A) consumer surplus only. B) consumer surplus minus producer surplus. C) consumer surplus plus producer surplus. D) producer surplus only.
Why does the aggregate demand curve slope downward?
What will be an ideal response?
The slope of a country's production possibility frontier with cloth measured on the horizontal and food measured on the vertical axis in the specific factors model is equal to ________ and it ________ as more cloth is produced
A) -MPLF/MPLC; becomes steeper B) -MPLF/MPLC; becomes flatter C) -MPLF/MPLC; is constant D) -MPLC/MPLF; becomes steeper E) -MPLC/MPLF; is constant
Industrial policy involves governments using taxes, subsidies, and regulations to nurture the development of specific industries
a. True b. False Indicate whether the statement is true or false