Complete the following table assuming that (a) MPS = 1/5, (b) there is no government and all saving is personal saving.

If GDP per capita rises by 2% between 2015 and 2016, which of the following is necessarily true?

A) The population has increased, but by less than 2%. B) The population has decreased. C) Real GDP has risen by more than 2%. D) None of the above is necessarily true.

How is economic profit calculated?

What will be an ideal response?