Which of the following is a true statement?
a. GDP per capita does not account for the difference in the cost of living among nations.
b. The LDC classification is of the questionable accuracy.
c. All of the answers are correct.
d. GDP per capita is affected by exchange rate changes.
e. GDP per capita ignores the degree of income distribution.
c
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The decision by a nation to join a currency union is based on:
A) the size of the nation's GDP. B) the diversification of its industry and population. C) the cost of designing, printing, and managing a national currency. D) the costs of abandoning a national currency versus the benefits of a common currency.
The marginal social cost, MSC, of producing a good or service equals
A) MC + MB. B) MB + marginal external cost. C) MB + marginal external benefit. D) MC + marginal external cost.