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.
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Javier has been thinking about purchasing a bond but is afraid that the bond will lose value. He has decided to hold money instead. This is known as the
A) money balance demand for money. B) precautionary demand for money. C) transactions demand for money. D) asset demand for money.
During 1980-2009, the countries achieving the most rapid growth of real GDP were nearly all
a. high-income developed economies. b. low-income less developed economies at the beginning of the period. c. South American economies. d. European economies. e. African economies.
An "aggregate":
A. is too large to analyze using standard macroeconomic theories. B. is the primary unit of analysis in microeconomics. C. treats a single unit as if it were a collection of specific units D. treats a collection of specific units as one unit.
Economic growth guarantees economic development.
Answer the following statement true (T) or false (F)