Assume that average labor productivity is the same in each country. Based on the information in the table, which country has the highest real GDP per capita?CountryPopulation (millions)Share of Population Employed (%)A10060B15055C7550D25045E9540
A. Country D
B. Country A
C. Country B
D. Country C
Answer: B
Economics
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The total revenue/expenditure rule of elasticity suggests that when price and total revenue go
A. in opposite directions, demand is elastic. B. in opposite directions, demand is inelastic. C. in same direction, demand is elastic. D. to infinity, demand is perfectly inelastic.
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