If GDP grows more rapidly than population for a particular country over a period of time, then we can determine that
A. GDP must rise at a slower rate in the future.
B. GDP per capita has increased.
C. All citizens of this country are better off.
D. Real GDP has decreased.
Answer: B
You might also like to view...
Which of the following antebellum transportation innovations earned the greatest rate of return?
a. corporate-owned turnpikes b. the National Road c. the Erie Canal d. the Mainline Canal
Investors diversify portfolios:
A. because diversified portfolios pay the highest rates of return. B. because diversified portfolios are guaranteed not to lose money. C. to reduce the risk of losing their investment. D. to guarantee minimum returns on their investment.
A small open economy has a current account balance of zero. A rise in its investment demand causes
A. a financial account deficit. B. net borrowing from abroad. C. income to exceed absorption. D. a current account surplus.
The substitution effect of a wage rate increase suggests that
A. individuals will supply more labor. B. individuals will supply more work and consume more leisure. C. individuals will supply less labor. D. individuals will consume more leisure.