The income per capita in Baltonia is 64,163 in Baltonian currency. If the price of a basket of goods worth 1 in the U.S. is 5.50 units of Baltonian currency, Baltonia's income per capita in purchasing power parity is:
A) 11,666. B) 10,257.48. C) 2,832. D) 15,624.50.
The price of a given basket of goods in Country 1 is 10 karls. The price of the same basket of goods in Country 2 is 25 ritz and 2 in the U.S. Country 1 has a income per capita of 3,200 karls and Country 2 has a income per capita of 5,500 ritz.
Question 2
If there was a positive technological shock which increased the demand for labor, then
A) imports would increase. B) GDP would decrease.
C) GDP would increase. D) imports would decrease.
Mark Twain supplemented his income as a writer by giving humorous lectures.
Value of Work versus GDP per Capita
Intergenerational Income Mobility in the United States
Effect of an Exogenous Shift in Income
The Parade of World Income
Construct a Lorenz curve that shows income distribution in this society.