In 2015, Brazil had a population of roughly 208 million people and a GDP of approximately $1.8 trillion. This means that GDP per capita in Brazil was approximately
A. $11,600.
B. $87.
C. $8,700.
D. $87,000.
Answer: C
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The Coase theorem states that
A) government intervention is always needed if externalities are present. B) assigning property rights is the only thing the government should do in a market economy. C) under certain conditions, the property right to an activity will be acquired by the party that values it most. D) a free-market equilibrium is the best solution to address externalities.
Suppose we have the following information about a shoe manufacturer: wages $100,000, sales $500,000, taxes $50,000, loan interest $10,000, leather purchases $170,000, rubber purchases $130,000
What is the contribution of this manufacturer to GDP using the income approach? A) $500,000. B) $300,000. C) $200,000. D) $40,000.
Assuming an upward-sloping aggregate supply curve, when aggregate demand decreases, unemployment
A. Increases, and the price level decreases. B. Increases, and the price level increases. C. Decreases, and the price level decreases. D. Decreases, and the price level increases.
Graph How many cars (in thousands) will this country import in a trading (open) economy situation?
a. 20 b. 40 c. 60 d. 80