GNI per capita is gross national income divided by the population.
Answer the following statement true (T) or false (F)
True
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According to the data in the table above, real GDP grew at a rate of ________ between year 1 and year 2
A) 10 percent B) 1 percent C) 50 percent D) 5 percent E) 55 percent
The poverty rate in the United States is lowest for:
A. whites. B. blacks. C. Hispanics. D. Asians.
In a perfectly competitive market, if P > MC, then
A) too little output is being produced. B) too much output is being produced. C) production is efficient, as the firm is earning profits. D) the firm is paying a price for resources that is too high.
What is the endowment effect?
A) the tendency of people to be unwilling to sell something they already own even if they are offered a price that is greater than what they would be willing to pay to buy the good if they did not already own it B) the tendency of people to be unwilling to sell something they already own because of its sentimental value C) the tendency of people to overstate the value of a good they already own even though similar items can be purchased at a lower price D) the sum total of assets that a person has acquired over the years