Author Question: If real GDP in Korea amounted to 448.3 trillion wons in 1999 and 473.7 trillion wons in 2000 . ... (Read 97 times)

student77 · **on:** Jun 30, 2018

If real GDP in Korea amounted to 448.3 trillion wons in 1999 and 473.7 trillion wons in 2000 . compute the growth experienced by this country in 2000?
a. 5.4
b. 5.66
c. 2.54
d. -1.05
e. -9.4

Question 2

Good A has an income elasticity equal to -0.8 and a cross price elasticity with respect to Good B of -0.75 . 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.