If real GDP is increasing more rapidly than population:
a. population must be declining.
b. the country will have to export more than it imports.
c. the general level of prices must be increasing.
d. per capita real GDP will be increasing.
d
You might also like to view...
Assume a firm is operating under conditions of pure competition and faces a marginal cost function that is everywhere below its average total cost
If the firm is producing where marginal revenue equals marginal cost will it be possible for it to make an economic profit? Explain.
If a graph of a perfectly competitive firm shows that the MR = MC point occurs where MR is above AVC but below ATC,
A) the firm is earning negative profit, and will shut down rather than produce that level of output. B) the firm is earning negative profit, but will continue to produce where MR = MC in the short run. C) the firm is still earning positive profit, as long as variable costs are covered. D) the firm is covering explicit, but not implicit, costs. E) the firm can cover all of fixed costs but only a portion of variable costs.