The implied growth rate for a country between 1960 and 2010 is 6%. This implies that:
A) the country needed to grow at an average rate of 6% per year between 1960 and 2010 to reach the 2010 level of GDP starting with the 1960 level.
B) the country needed to grow by at least 6% in any of the fifty years between 1960 to 2010 to reach the level of GDP in 2010 starting with the 1960 level.
C) the growth rate of GDP in the country was above 6% between 1960 to 1990 and above 6% between 1991 and 2010.
D) the country needed to grow at rates above 6% per year between 1960 and 2010 to reach the 2010 level of GDP starting from the 1960 level.
A
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Which of the following statements about the characteristics of debt and equity is FALSE?
A) They can both be long-term financial instruments. B) They can both be short-term financial instruments. C) They both involve a claim on the issuer's income. D) They both enable a corporation to raise funds.
If the income elasticity of demand for a good is negative, then the good must be an inferior good
a. True b. False Indicate whether the statement is true or false