The per capita GDP of a country is calculated by:
a. dividing the total population of the country by its GDP
b. dividing the GDP of the country by its total population.
c. multiplying the GDP of the country by its total population.
d. adding the GDP of the country to its total population.
b
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When we assume that investment is autonomous we imply that:
a. it is a fixed constant amount. b. it is independent of current real GDP. c. it is a positive function of interest rates. d. it is actually zero. e. it has no impact on consumption.
Last year a country had 800 workers who worked an average of 8 hours and produced 12,800 units. This year the same country had 1000 workers who worked an average of 8 hours and produced 14,000 units. This country's productivity was
a. higher this year than last year. A possible source of this change in productivity is a change in the size of the capital stock. b. higher this year than last year. A change in the size of the capital stock does not affect productivity. c. lower this year than last year. A possible source of this change in productivity is a change in the size of the capital stock. d. lower this year than last year. A change in the size of the capital stock does not affect productivity.