The Philippines and Vietnam have roughly the same size population. Suppose the GDP of the Philippines is $1,000 billion and the GDP of Vietnam is $10,000 billion. You should conclude
A) it is not possible to make a good comparison of the economic well being of a typical individual in the 2 countries without additional information.
B) a typical person in Vietnam is more than 10 times as well off as the typical person in the Philippines.
C) a typical person in Vietnam is 10 times as well off as the typical person in the Philippines.
D) a typical person in Vietnam is less than 10 times as well off as the typical person in the Philippines.
A
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Assets minus liabilities equals
A) implicit costs. B) accounting profit. C) economic profit. D) net worth.
If a straight line passes through the point x = 12 and y = 4 and also through the point x = 4 and y = 8, the slope of this line is
A) seven tenths. B) negative 8 divided by 4. C) one -and one half. D) negative one half.