The Philippines and Vietnam have roughly the same size population. Suppose the GDP of the Philippines is 1,000 billion and the GDP of Vietnam is 10,000 billion. You should conclude
A) it is not possible to make a good comparison of the economic well being of a typical individual in the 2 countries without additional information.
B) a typical person in Vietnam is more than 10 times as well off as the typical person in the Philippines.
C) a typical person in Vietnam is 10 times as well off as the typical person in the Philippines.
D) a typical person in Vietnam is less than 10 times as well off as the typical person in the Philippines.
Question 2
Economies where goods and services are traded directly for other goods and services are called ________ economies.
A) barter B) seigniorage C) direct D) trade
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