A country with a real GDP per person similar to real GDP per person in the United States but with limited political freedom is generally considered to have

A) a lower standard of living than the United States.
B) a larger Human Development Index because the other country still needs to develop more political freedom.
C) the same standard of living as the United States.
D) an understated GDP.
E) an overstated nominal GDP.

A

Economics

You might also like to view...

If both producers and consumers believe that a product's price will rise in the future, then at the present, demand ________ and supply ________

A) decreases; decreases B) decreases; increases C) does not change; does not change D) increases; decreases E) increases; increases

Economics

Refer to Figure 4-16. Suppose the market is initially in equilibrium at price P1 and now the government imposes a tax on every unit sold. Which of the following statements best describes the impact of the tax? For demand curve D1

A) the producer's share of the tax burden is the same whether the supply curve is S1 or S2. B) the producer bears a greater share of the tax burden if the supply curve is S2. C) the producer bears a greater share of the tax burden if the supply curve is S1. D) the producer bears the entire burden of the tax if the supply curve is S1 and the consumer bears the entire burden of the tax if the supply curve is S2.

Economics