In 2014, the typical Bangladeshi had about
a. more than half the real income of a typical American a century ago.
b. the same real income of a typical American a century ago.
c. 2 times as much real income as that of a typical American a century ago.
d. 4 times as much real income as that of a typical American a century ago.
a
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Which of the following best explains why productivity growth in the United States has been faster than in other leading industrialized nations?
A) There are fewer government regulations in the United States regarding the way firms can hire and fire workers. B) Job mobility in the United States is more restricted than it is in many foreign countries. C) European countries have more flexible policies regarding the number of hours employees are permitted to work. D) The financial systems of foreign countries are generally more efficient than those in the United States.
The actual value of the price elasticity of demand is always
A) positive because of the law of demand. B) negative because of the law of demand. C) positive because of diminishing marginal utility. D) negative because percentages can only be negative.