If Country A's real GDP is growing at 6 percent per year and Country B's real GDP is growing at 6 percent per year, then the standard of living is

A) growing more rapidly in Country A.
B) higher in Country B.
C) changing at the same rate in Country A and Country B.
D) growing more slowly in Country A.
E) changing at the same rate in Country A and Country B only if the rate of population growth is the same in both countries.


E

Economics

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Indicate whether the statement is true or false

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What will be an ideal response?

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On the graph above, movement from point ________ to point ________ might occur if there is a negative demand shock, followed by updating of expected inflation

A) F; G B) H; I C) H; F D) F; H E) none of the above

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A competitive firm maximizes its profits (or minimizes is losses) by producing the quantity where the market price equals the firm's:

A. marginal cost. B. average total cost. C. average variable cost. D. average fixed cost.

Economics