Refer to the above table. Suppose one country has a per capita real GDP of $1000 and another has a per capita real GDP of $10,000, or ten times larger. If both countries have a growth rate of 5 percent, how much larger will per capita real GDP be in the second country be than the first after 50 years?

In an economy where nominal incomes adjust equally to changes in the price level, we would expect the long-run aggregate supply curve to be: a. vertical

b. horizontal. c. unit elastic. d. negatively sloped. e. positively sloped.

Tiffany needs to assess the market risk in order to decide when to launch a new product. He decides to delegate the task of risk assessment to Joe who is a competent employee of the firm. Which of the following conclusions can be drawn from this?

a. Joe has the required tools and resources to carry out the order. b. Joe is above Tiffany in the hierarchy of this firm. c. The chances that Joe's assessment will be accurate are very high. d. Tiffany is well equipped to analyze the information he passes on to Joe.