GDP per capita
A. Indicates the most efficient use of resources.
B. Is real GDP corrected for price level changes.
C. Is equal to a nation's GDP divided by its population.
D. Does not permit comparisons of the economic welfare of different nations.
Answer: C
Economics
You might also like to view...
Single-price monopolies maximize profit by producing the amount of output at which
A) total revenue is maximized. B) price is equal to marginal cost. C) price is equal to marginal revenue. D) marginal revenue is equal to marginal cost.
Economics
Real GDP =________ where the price level is the ________
A) Nominal GDP × Price level; GDP deflator B) Nominal GDP ÷ Price level; GDP deflator C) Nominal GDP ÷ Price level; CPI D) Nominal GDP × Price level; CPI E) none of the above
Economics