Which of these countries' growth rates of real GDP per person have exceeded the United States' growth rate of real GDP per person over the last century?
a. Canada and China
b. China and India
c. Germany and India
d. Germany and Pakistan
a
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There will be gains from trade when
A. the buyer values a product more highly than the seller. B. money is used as a medium of exchange. C. both the buyer and the seller attach the same value to the product. D. the buyer values a product less highly than the seller.
Profits
A) are a cost of doing business because they are payments to others. B) are not a cost of doing business because they are owed to resource owners. C) are not a cost of doing business because they are often zero or negative. D) are a cost of doing business because entrepreneurs would not incur the risk of starting a business if they didn't expect to earn profits.
At tax rates higher than the tax rate that maximizes tax revenues along a Laffer curve
A) an increase in tax rates increases tax revenues. B) any variation in tax rates has no effect on tax revenues. C) a reduction in tax rates increases tax revenues. D) a reduction in tax rates reduces tax revenues.
Government provides secondary education because of its private good aspects.
Answer the following statement true (T) or false (F)