What was real per capita GDP in 1933 measured in 2013 prices? Use the data in the table below to compute your answer. Nominal GDP Population (in (in Billions) Nominal per Capita GDP Price Level Year Millions) 1933 $57 126 $452 100 2013 $16,800 310 $54,194 1,400

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.