Per capita GDP will rise if GDP
A. Decreases and the population increases.
B. Increases more rapidly than the population increases.
C. Increases more slowly than the population increases.
D. Increases at the same rate as the population increases.
Answer: B
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A quota is the same as a voluntary export restraint
Indicate whether the statement is true or false
The Royal Proclamation of 1763 and the Quebec Act of 1774 had all of the following effects except:
a. increased the price of farm labor b. increased the price of farm land c. decreased competition for existing farmers d. encouraged Scotch, Irish and German immigrants to rebel against England
In the long run, price elasticities of demand are usually __________
a. less than they are in the short run because people can adjust b. the same as they are in the short run because tastes don't change c. greater than they are in the short run because prices rise over time d. less than they are in the short run because real prices fall over time e. greater than they are in the short run because consumers have time to adjust
Give some explanations for the decline in union membership in the United States.
What will be an ideal response?