The GDP of Country X and Country Y were found to be equal in a particular year. However, the income per capita of Country X was higher than the income per capita of Country Y. This implies that ________
A) the population of Country X is higher than the population of Country Y
B) the number of workers in country X is higher than the number of workers in Country Y
C) the population of Country X is lower than the population of Country Y
D) the number of workers in country X is lower than the number of workers in Country Y
C
Economics
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As a firm in monopolistic competition sets the price for its product, the firm faces a tradeoff between
A) supply and demand. B) efficiency and equity. C) internal and external economies of scale. D) price and the quantity it can sell. E) its marginal revenue and its price.
Economics
What are the three types of gains from international transactions between the residents of different countries?
What will be an ideal response?
Economics