It is estimated that in 2007, Mexico had a population of 110 million and Brazil had a population of 190 million. At the same time, Mexico's GDP was $1 trillion while Brazil's was $1.31 trillion. These data show that
A) Brazil had a healthier economy than did Mexico.
B) Mexico's GDP per person was lower than was Brazil's GDP per person in 2007.
C) Mexico's GDP per person was $9090 in 2007.
D) Brazil's GDP per person was $5300 in 2007.
C
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The traditional Keynesian approach concludes that an increase in government spending
A) generates a greater increase in investment spending. B) generates a greater increase in total spending because consumption spending increases as incomes increase. C) has no effect on total spending because consumers increase saving by an equal amount. D) generates an equal increase in total spending because government spending makes up part of total spending.
Huge increases in government spending and record low levels of unemployment during the Vietnam War era in the late 1960s led policy makers to fear that
A) the economy was slipping into a recession, which would increase unemployment. B) the economy was growing too fast, which would increase unemployment. C) the economy was slipping into a recession, which would increase inflation. D) the economy was growing too fast, which would increase inflation.