Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 21, Problem 7MCQ
To determine
The correct option.
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Students have asked these similar questions
I. Nominal GDP and Nominal GDP per capita can best
measure the quality of living and standard of living
II. Real GDP and Real GDP per capita can best measure
quality of living and standard of living
III. To compare the standard of living across countries and
across time, some correction is needed to account for
exchange rates and price changes/differences
IV. While useful, GDP is a limited metric in the
measurement of the quality of living and the standard
of living
O All Statements are true
Only Statements III and IV are true
Only Statements II and III are true
Only Statements I and III are true
All Statements are false
Use the table to answer the questions. Round your answers to the nearest cent.
Country
Gross domestic product (GDP)
Population
Country A
$1.5$1.5 trillion
100100 million
Country B
$5$5 trillion
400400 million
What is the GDP per capita for Country A?
$
What is the GDP per capita for Country B?
$
Which country has the largest average GDP per capita?
Country B
Country A
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Student question
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What will be the difference in the GDPs per capita of both countries at the beginning of year 3? A. $339.69 B. $99.84
C. $8.99 D. $30.39
What will be the difference in the GDPs per capita of both countries at the beginning of year 3?
A. $339.69
B. $99.84
C. $8.99
D. $30.39
Chapter 21 Solutions
Foundations of Economics (8th Edition)
Ch. 21.A - Prob. 1SPPCh. 21.A - Prob. 2SPPCh. 21.A - Prob. 3SPPCh. 21.A - Prob. 4SPPCh. 21.A - Prob. 5SPPCh. 21.A - Prob. 6SPPCh. 21.A - Prob. 7SPPCh. 21.A - Prob. 1IAPCh. 21.A - Prob. 2IAPCh. 21.A - Prob. 3IAP
Ch. 21.A - Prob. 4IAPCh. 21.A - Prob. 5IAPCh. 21.A - Prob. 6IAPCh. 21.A - Prob. 7IAPCh. 21 - Prob. 1SPPACh. 21 - Prob. 2SPPACh. 21 - Prob. 3SPPACh. 21 - Prob. 4SPPACh. 21 - Prob. 5SPPACh. 21 - Prob. 6SPPACh. 21 - Prob. 7SPPACh. 21 - Prob. 8SPPACh. 21 - Prob. 9SPPACh. 21 - Prob. 10SPPACh. 21 - Prob. 1IAPACh. 21 - Prob. 2IAPACh. 21 - Prob. 3IAPACh. 21 - Prob. 4IAPACh. 21 - Prob. 5IAPACh. 21 - Prob. 6IAPACh. 21 - Prob. 7IAPACh. 21 - Prob. 8IAPACh. 21 - Prob. 9IAPACh. 21 - Prob. 10IAPACh. 21 - Prob. 11IAPACh. 21 - Prob. 12IAPACh. 21 - Prob. 1MCQCh. 21 - Prob. 2MCQCh. 21 - Prob. 3MCQCh. 21 - Prob. 4MCQCh. 21 - Prob. 5MCQCh. 21 - Prob. 6MCQCh. 21 - Prob. 7MCQ
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