Iceland's real GDP grows at a rate of 2.6 percent and population grows at a rate of 0.8 percent. Iceland's real GDP per person grows at a rate of
A) 3.0 percent. B) 1.8 percent. C) 2.6 percent. D) 3.4 percent. E) 3.2 percent.
Question 2
Which of the following will happen if consumption in an economy falls?
A) Firms' revenue fall. B) Labor supply falls.
C) Mortgage defaults fall. D) Asset prices rise.