In 1961, real GDP totaled 575 billion and in 2011 it totaled 1,255 billion. Between 1961 and 2011, the population increased from 50 million to 100 million. Between 1961 and 2011, the standard of living based on real GDP per person
A) decreased from 125,500 to 28,750.
B) increased by about 118 percent.
C) increased from 11,500 to 12,550.
D) decreased by 9 percent.
E) increased by over 300 percent.
Question 2
The fact that individuals whose credit worthiness is less than it appears to be are those who are most willing to borrow funds at any given interest rate is an example of
A) moral bonuses. B) diverse origins.
C) symmetric information. D) adverse selection.
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