In 2010, the real GDP and population of Zincona were $200 million and 5 million, respectively. If the number of farmers in the economy was 0.001 million and the number of government employees was 0.01 million, then Zincona's real GDP per worker was _____ in 2010
a. $40.2
b. $50
c. $30.8
d. $60
a
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An increase in the interest rate would ________.
A. increase consumption B. decrease government purchases C. decrease investment D. increase net exports
Refer to Figure 12-10. The firm's short-run supply curve is its
A) marginal cost curve. B) marginal cost curve from d and above. C) marginal cost curve from b and above. D) marginal cost curve from c and above.
As a result of establishing a legal minimum wage above the market clearing wage
A) there will be a shortage of workers. B) firms will hire fewer workers. C) firms will hire more workers. D) fewer workers will want to work.
In the balance of payments, "net errors and omissions":
a. Must be zero. b. Is like a balancing item. It makes the balance of payments equal zero. c. Is not a part of the balance of payments because governments don't make errors, and they don't omit transactions from the balance of payments. d. None of the above.