What will happen to the annual rate of growth of per capita real GDP if real GDP grows at a constant rate of 4.5 percent and the annual rate of population growth goes from 3 percent to 3.5 percent?
A) The annual rate of growth of per capita real GDP will increase from 7.5 percent to 8 percent.
B) The annual rate of growth of per capita real GDP will increase from -1.5 percent to -1 percent.
C) The annual rate of growth of per capita real GDP will remain unchanged.
D) The annual rate of growth of per capita real GDP will decrease from 1.5 percent to 1 percent.
D
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In 1990, there were 50 bilateral agreements and regional trade agreements between countries. Today there are
A) more than 230 of these agreements. B) 30 of these agreements. C) none of these agreements remaining. D) more than 10,000 of these agreements.
If you divide nominal debt by nominal GDP and real debt by real GDP, you will get two different answers
a. True b. False
In a perfectly competitive industry,
a. the market price is determined at the intersection of the market supply and demand curves b. the typical firm will just break even in the short run c. a rise in the market price will attract new entrants d. economics profits are a signal for new consumers to enter e. each firm faces the downward sloping market demand curve
If an individual producer is willing to produce one unit of a good for $2.50 but is able to sell it for $7.50, then his or her producer surplus from the sale of that unit would be:
A. $5 B. $10 C. $6.25 D. $7.50