Author Question: The table below shows data for China. Population (millions) Real GDP (yuan, billions) Nominal GDP ... (Read 105 times)

nautica902

  • Hero Member
  • *****
  • Posts: 591
The table below shows data for China.
 
  Population (millions) Real GDP (yuan, billions) Nominal GDP (yuan, billions)
  2000 1267 4999 9921
  2003 1292 6498 13582
  2006 1315 8776 21087
 
  The standard of living between 2003 and 2006 increased by ________.
  A) 55.3 percent
  B) 1.8 percent
  C) 35 percent
  D) 32.7 percent

Question 2

Because each perfectly competitive firm sells a product identical to that of the other firms
 
  A) each firm tries to cut prices to increase its market share.
  B) each firm's output is a perfect substitute for the output of any other firm.
  C) each firm expects to earn some economic profit.
  D) the demand for each firm's product is perfectly inelastic.



heinisk01

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

D

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

For a complete list of videos, visit our video library