If GDP grows more rapidly than population for a particular country over a period of time, then we can determine that
A. GDP must rise at a slower rate in the future.
B. GDP per capita has increased.
C. All citizens of this country are better off.
D. Real GDP has decreased.
Answer: B
Economics
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If the firm in Figure 17-4 above maintains its set price of P0, rather than dropping price to P1, this reduces its profit by
A) K - G. B) K + G. C) G - K. D) G + H. E) G.
Economics
Suppose the domestic supply (QS) and demand (QD) for MP3 players in the United States is represented by the following set of equations:QS = -25 + 10PQD = 875 - 5PIf the United States can import MP3 players from the rest of the world at a per unit price of $50, how many MP3 players will be produced in the United States?
A. 925 B. 525 C. 625 D. 475
Economics