Since 1960
A) in every decade, Japan has experienced faster growth than the United States.
B) growth rates in South American countries have exceeded those in North America.
C) real GDP per person in Hong Kong and Singapore have grown and are approaching or surpassing that in the United States.
D) due to rapid growth, real GDP per person in China is now about 50 percent of that in the United States.
C
You might also like to view...
There's not a single golf course in downtown Chicago because
A) it would be physically impossible to produce. B) it would ruin the hustle and bustle of the city. C) the opportunity cost of creating such a course is too low. D) the demand for land for non-golf uses is high enough to discourage such an investment. E) all of the above are true.
Explain how and why economic events in the United States affected the economies of Thailand, South Korea, and Indonesia and vice-versa.
What will be an ideal response?
With respect to factors of production, which of the following statements is not true?
A. Factors of production are also known as resources. B. Only those resources that are privately owned are counted as factors of production. C. In order to produce any good or service, it is necessary to have factors of production. D. Factors of production include land, labor, capital, and entrepreneurship.
If the consumer gets 40 utils from consuming four CDs, 45 utils from consuming five CDs, and 48 utils from consuming six CDs, then the consumer's marginal utility from the sixth CD is:
A. 3 utils. B. 8 utils. C. 46.5 utils. D. 48 utils.