On average, people in the United States spend a greater percentage of their income on health care than do people in most other countries

Which of the following creates difficulties in making comparisons of real GDP across nations?

A) Each nation has a different population. B) Relative prices differ sharply across countries. C) Nations produce different goods and services. D) Nations often have different languages.

If the demand for a good is price inelastic and the good price is increased, then the marginal revenue (MR) received by the seller will

A) not change. B) decrease. C) increase. D) Cannot be determined from this information