If output increases by 2 percent and population growth is 3 percent, per capita output:
A. grows by about 5 percent.
B. falls by about 1 percent.
C. grows by about 1 percent.
D. falls by about 5 percent.
Answer: B
You might also like to view...
If a firm's inventory decreases, the gross domestic product (GDP) also decreases
a. True b. False Indicate whether the statement is true or false
The Social Security system pays:
A. current retirees from funds paid by current employees. B. retirees the money accumulated from the payroll tax collected throughout their working lives. C. current retirees from current general government revenues. D. current retirees from general government revenue surpluses they contributed to through taxes.
The real interest rate is:
A. the percentage increase in money that the lender receives on a loan. B. the percentage increase in purchasing power that the lender receives on a loan. C. also called the after-tax interest rate. D. usually higher than the nominal interest rate.
Harry owns a barber shop and charges $6 per haircut. By hiring one barber at $10 per hour, the shop can provide 24 haircuts per 8-hour day. By hiring a second barber at the same wage rate, the shop can now provide a total of 42 haircuts per day. The MRP of the second barber is
A. 18 haircuts. B. 42 haircuts. C. $126. D. $108.