GDP per capita is the best measurement for:
A. Determining the distribution of output within a country.
B. Determining the growth rate of the economy over time.
C. Finding the impact of population on GDP.
D. Comparing living standards between countries.
D. Comparing living standards between countries.
You might also like to view...
The era of bank panics in the United States was effectively ended by
A) establishing the Fed as lender of last resort. B) implementing the gold standard. C) abandoning the gold standard. D) introducing deposit insurance.
Regulation focused on the impact of production on the environment and society, the working conditions under which production occurs, or the physical attributes of goods, is known as
A) cost-of-service regulation. B) rate-of-return regulation. C) social regulation. D) monopoly regulation.
If resources are allocated efficiently in a market economy:
A. each person's utility is maximized, and so the result is Pareto optimal. B. the outcome will always be socially desirable. C. the way final goods and services are distributed does not matter to society. D. the outcome may not be socially desirable if distributional issues are also important.
Refer to the above table. At what quantity of labor does the marginal cost curve start to increase?
A. after 1 unit B. after 3 units C. after 6 units D. after 2 units