If a country's income level is high:
A. it must have a high level of growth.
B. it usually has a high level of GDP per capita.
C. it must be well-endowed with natural resources.
D. All of these are true.
B. it usually has a high level of GDP per capita.
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The unemployment rate is an important economic statistic that can tell us about the health of the economy. If the unemployment rate turns out to be high or higher than anticipated, we would expect
A) that jobs are less difficult to find. B) that investors will be more optimistic about the economy. C) that stock prices are more likely to fall. D) it is more likely that an incumbent president will be re-elected.
In the RBC model, actual real GDP is
A) never equal to the natural real GDP. B) equal to the natural real GDP when P = Pe. C) equal to the natural real GDP when P is equal to or greater than Pe. D) always equal to the natural real GDP.