When Country X has high economic growth, this country has
A) a high level of real Gross Domestic Product (GDP).
B) a high level of per capita real Gross Domestic Product (GDP).
C) a large increase in per capita real Gross Domestic Product (GDP).
D) a large increase in personal income.
C
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A permanent increase in autonomous investment causes
A) a less than proportional increase in real Gross Domestic Product (GDP). B) a more than proportional increase in real Gross Domestic Product (GDP). C) an offsetting change in saving that leaves real Gross Domestic Product (GDP) at the same level. D) a proportional increase in real Gross Domestic Product (GDP).
If a profit-maximizing firm finds that, at its current level of production, MR < MC, it will
A) decrease output. B) increase output. C) shut down. D) operate at a loss.