Most people living in Country Y have no more than a ninth-grade education. In contrast, about half of the adult population of Country Z has a college degree. Based on this information, which statement about these two countries is most likely true?
a. Country Z does not have many natural resources available.
b. Country Y has a higher rate of economic growth than Country Z.
c. There are more people living in Country Y than in Country Z.
d. The per capita output of Country Z is higher than that of Country Y.
d. The per capita output of Country Z is higher than that of Country Y.
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Which of the following is the best measure of the total amount that the federal government owes to private owners of U.S. Treasury securities?
A) the government budget deficit B) the gross public debt C) government interagency borrowing D) the net public debt
In Figure 3-7 above, when autonomous planned spending is $250, the equilibrium income level is
A) $1000. B) $1250. C) $1500. D) $2500.
Small, developing countries must first become self-sufficient before they can benefit from international trade
a. True b. False Indicate whether the statement is true or false
The change in total utility arising from a one-unit increase in consumption of a good is referred to as
a. average utility b. the principle of diminishing marginal utility c. real income d. marginal utility e. price