A. real GDP per person
B. nominal GDP per person.
C. Real GDP
D. The growth rate of nominal GDP per person
Related Mcqs:
- Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?
XA. wages and rents should fall in Country A
B. wages and rents should rise in Country A
C. wages should rise and rents should fall in Country A
D. wages should fall and rents should raise in Country A - The standard of living in a country is represented by its ?
A. National income
B. Per capita income
C. Poverty ratio
D. None of these - Workers in Western Europe enjoy a high standard of living because ?
A. the countries of Western Europe have set high minimum wage rates.
B. Unions in Western Europe keep the wage high
C. none of these answers.
D. The countries of Western Europe have protected their industries from foreign corporation
E. Workers in the united states are highly productive - Amount of money needed to purchase the goods and services required to maintain a certain standard of living called ?
A. Cost of living
B. Basic requirement
C. Cost of life
D. None of the above - The standard of living is often measured by ?
A. Real GDP per capita
B. Real GDP
C. Real GDP population
D. Real GDP plus depreciation - Suppose your income rises from Rs19,000 to Rs31,000 while the CPI rises from 122 to 169 Your standard of living has likely ?
A. fallen
B. You can’t tell without knowing the base year
C. risen
D. stayed the same - In aukarky, when a community maximizes its standard of living, its production and consumption point is ?
A. below the production possibility frontier
B. On the production possibility frontier
C. above the production possibility frontier
D. can’t tell without more information - In autarky, when a community maximizes its standard of living its production point is ?
A. below the production possibility frontier
B. on the production possibility frontier
C. above the production possibility frontier
D. can’t tell without more information - Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution ?
A. accurately represent the true inequality of living standards
B. understate the inequality of living standards
C. exaggerate the inequality of living standards
D. could exaggerate of understate the inequality of living standards depending on whether the transfers are goods or services. - In which of the following cases is the assumption most reasonable ?
A. To address the impact to taxes on income distribution an economist assumes that everyone earns the same income.
B. To address the impact of money growth on inflation, an economist assumes that money is strictly coins.
C. To model the benefits of trade. an economist assumes that there are two people and two goods
D. To estimate the speed at which a beach ball falls, a physicist assumes that if falls in a vacuum.
