In 2010, output per capita in China was approximately equal to
A) $2,100.
B) $7,627.
C) $22,100.
D) $32,100.
B
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Prejudice leads, inevitably, to economic discrimination
a. True b. False Indicate whether the statement is true or false
Which of the following items is counted as part of government purchases?
a. The federal government pays the salary of a Navy officer. b. The state of Nevada pays a private firm to repair a Nevada state highway. c. The city of Las Vegas, Nevada pays a private firm to collect garbage in that city. d. All of the above are correct.
Per capita GDP will definitely rise if
A. The rate of economic growth is less than the rate of population growth. B. The population falls and GDP does not fall. C. There is a decrease in the size of the working population. D. The rate of economic growth falls.
If government spending is increased by $550 and taxes are increased by $550, the equilibrium level of income will
A. not change. B. decrease by $550. C. increase by $550. D. increase by $1,100.