In 1961, real GDP totaled $575 billion and in 2011 it totaled $1,255 billion. Between 1961 and 2011, the population increased from 50 million to 100 million. Between 1961 and 2011, the standard of living based on real GDP per person
A) decreased from $125,500 to $28,750.
B) increased by about 118 percent.
C) increased from $11,500 to $12,550.
D) decreased by 9 percent.
E) increased by over 300 percent.
C
Economics
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A potato farmer who signs a futures contract is
A) speculating on the future price of potatoes, hoping it will be higher. B) speculating on the future price of potatoes, hoping it will be lower. C) eliminating his exposure to risk from a falling potato price. D) trying to influence the price of potatoes to rise.
Economics
The last year we did not have a deficit in our current account was
A. 1960. B. 1973. C. 1986. D. 1991.
Economics