Which of the following is true?
A) The gap between the income per capita of U.S and the income per capita of poorer countries is small when exchange rate-based measures are used.
B) The gap between the income per capita of U.S and the income per capita of poorer countries is large when PPP-based measures are used.
C) Exchange rate-based measures of income per capita are identical to PPP-based measures.
D) Exchange rate-based measures of income per capita differ from PPP-based measures of income per capita.
D
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The Board of Governors of the Federal Reserve consists of seven members, each of which are
A) appointed by the president of the United States. B) elected by the public every two years. C) presidents of one of the 12 regional Federal Reserve Banks. D) CEOs of commercial banks within each Federal Reserve district.
Which of the following is an accurate statement of the difference between the individual demand curve and the individual supply curve?
a. The demand curve slopes upward from left to right; the supply curve slope downward from left to right.
b. The demand curve slopes downward from left to right; the supply curve slopes upward from left to right.
c. The demand curve can be shifted by technology variables; the supply curve can be shifted by income variables.
d. The demand curve can be shifted by price variables; the supply curve can be shifted by taste variables.