Suppose Mexico's real GDP per person in 2008 is $6,000 and the U.S. real GDP per person is $24,000. Mexico has annual growth in real GDP per person of 5 percent
Approximately how many years will it take Mexico to equal $24,000 of real GDP per person? A) 14 years
B) 18 years
C) 28 years
D) 36 years
E) 40 years
C
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The strength of the demand for a resource depends on the following factors, except
A. supply of the resource. B. demand for the product the resource helps to produce. C. productivity of the resource. D. price of the product the resource helps to produce.
In 2008, net exports in the U.S. were
a. $1,831 billion. b. -$2,539 billion. c. -$900 billion. d. -$1,500 billion. e. -$708 billion.
Joaquín is trying to raise support for a referendum that would improve the environment but diminish local manufacturing jobs by 5 percent. How could he use positive framing to encourage voters to support the referendum?
a. Argue that the environment is infinitely more important than a mere 5 percent of jobs. b. Point out that even if no action is taken, local manufacturing jobs will decline eventually anyway. c. Emphasize that the bill will save both the environment and 95 percent of local manufacturing jobs. d. Introduce another referendum that would improve the environment by 5 percent but diminish local manufacturing jobs by 95 percent.
If the price is so high that vendors find too many unsold bottles remaining in inventory, they might dispose of their excess inventory by
A. creating a surplus. B. lowering the price per bottle. C. raising the price per bottle. D. closing early.