If a country's GDP increases and all other variables remains constant, ________
A) its income per worker will increase
B) its income per capita will fall
C) its GNP will fall
D) its trade surplus will increase
A
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Of the following, demand is likely to be the least elastic for
A) Ford automobiles. B) Toyota automobiles. C) compact disc players. D) toothpicks.
Refer to the table. If the equilibrium level of real GDP is $43 billion, its level of consumption will be:
Answer the question on the basis of the following table for a particular country in which C is
consumption expenditures, I g is gross investment expenditures, G is government expenditures,
X is exports, and M is imports. All figures are in billions of dollars. Each question is
independent of other question using the same table, unless otherwise stated.
A. $20 billion.
B. $22 billion.
C. $24 billion.
D. $26 billion.