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.
Lewis Hine’s 1910 photograph shows a tenement alley in New York City. More famous for his “unsettlin
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table
Table salt.