Author Question: Real GDP per person in the country of Flip is 10,000, and the growth rate is 10 percent a year. Real ... (Read 126 times)

burton19126 · **on:** Jun 29, 2018

Real GDP per person in the country of Flip is 10,000, and the growth rate is 10 percent a year. Real GDP per person in the country of Flap is 20,000 and the growth rate is 5 percent a year.

When will real GDP per person be greater in Flip than in Flap? A) in 2 years
B) in 15 years
C) never
D) in 10 years

Question 2

Aside from being a means of payment, the other functions of money are

A) medium of exchange and the ability to buy goods and services.
B) medium of exchange, unit of account, and means of lending.
C) pricing, contracts, and store of value.
D) medium of exchange, unit of account, and store of value.