Countries are divided into groups based on income. What income group is most common?
a. middle income ($1,025-$12,475 GDP/capita)
b. low income (less than $1,025 GDP/capita).
c. high income (greater than $12,475 GDP/capita).
d. high and low income groups have the same number.
a. middle income ($1,025-$12,475 GDP/capita)
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To calculate the multilateral effective exchange rate for a nation for each trading partner:
a. add the share of trade to the % change in the exchange rate and add the sums. b. divide the share of trade by the % change in the exchange rate and add the dividends. c. subtract the share of trade from the % change in the exchange rate and add the differences. d. multiply the share of trade by the change in the exchange rate and add the products
Elasticity is:
A) the sum of the percentage change in two variables. B) the difference of the percentage change in two variables. C) the product of the percentage change in two variables. D) the ratio of the percentage change in two variables.