Author Question: If real GDP for Mexico was 19.8 trillion pesos at the end of 1999 and 21.3 trillion pesos at the end ... (Read 51 times)

student77 · **on:** Jun 30, 2018

If real GDP for Mexico was 19.8 trillion pesos at the end of 1999 and 21.3 trillion pesos at the end of 2000 . then Mexico's economy grew at an annual rate of _____.
a. -0.015
b. 4.4
c. 4.2
d. 7.57
e. 3.8

Question 2

Good A has an income elasticity equal to 1.0 and a cross price elasticity with respect to Good B of -0.6 . Then:
a. Good A is an inferior good and Goods A and B are substitutes.
b. Good A is an inferior good and Goods A and B are complements.
c. Good A is a normal good and Goods A and B are substitutes.
d. Good A is a normal good and Goods A and B are complements.