Refer to the above table. Country A has a per capita real GDP of $1000 and B has a per capita real GDP of $10,000. A is growing at a rate of 5 percent a year and B at a rate of 4 percent a year
After 50 years, how much larger is per capita real GDP in B than A? How much is this in real dollars?
A) B is 12 times larger, or $230,000 larger on a real per capita basis.
B) B is 8 times larger, or $175,000 larger on a real per capita basis.
C) B is a little less than 2 times smaller, or almost $20,000 smaller on a real per capita basis.
D) B is a little over 6 times larger, or almost $60,000 larger on a real per capita basis.
D
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In international trade, all payments and gifts that are related to the purchase or sale of both goods and services are referred to as the
A) current account. B) capital account. C) labor account. D) official reserve transactions account.
Explain why economists believe that an individual who commits a crime does so acting in his/her own self-interest