If the current year CPI is 90, then the price level has decreased 10 percent since the base year

Average income in some East Asian countries, as measured by real GDP per person, has recently grown at an average annual rate that implies income will double about every

a. 10 years. b. 15 years. c. 20 years. d. 25 years.

A. the production possibilities curves of such nations are more bowed out from the origin. B. the production possibilities curves of such nations have shifted inward. C. the production possibilities curves of such nations have shifted outward. D.

these nations are operating at some point outside of their production possibilities curves. A. have a less concave production possibilities curve. B. produce at some point closer to its production possibilities curve. C. be able to produce at some point outside of its production possibilities curve. D. produce more consumer goods and fewer investment goods.