The following table shows values of annual real GDP per capita over time. Use it to answer the next question.1810$1,5001860$2,1001910$3,9001960$18,0002010$43,600What was the rate of growth in real GDP per capita between 1810 and 2010?
A. 2,807%
B. 2,907%
C. $43,600
D. $42,100
Answer: A
You might also like to view...
The price of apples increases from $1 to $1.10. At the same time, the quantity of apples demanded decreases from 100 to 90. The price elasticity of demand for apples (calculated using the initial value formula) is __________ .
A. 0.02 B. 0.9 C. 1 D. 1.1
What is cost-plus pricing? Why do some firms use cost-plus pricing even when the firms' managers have the resources to devise a pricing strategy that would result in greater profits?
What will be an ideal response?
Holding all else constant, an increase in consumption taxes, such as sales taxes or a VAT, will ________ the price of consumption goods and ________ output
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Other things equal, an adverse supply shock would
a. Lower the price level b. decrease real output c. Shift AD left d. Do a. and b. but not c.