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Author Question: The GDP of Country X and Country Y were found to be equal in a particular year. However, the income ... (Read 110 times)

rmenurse

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on: Jun 30, 2018
The GDP of Country X and Country Y were found to be equal in a particular year. However, the income per capita of Country X was higher than the income per capita of Country Y. This implies that ________.
 
  A) the population of Country X is higher than the population of Country Y
  B) the number of workers in country X is higher than the number of workers in Country Y
  C) the population of Country X is lower than the population of Country Y
  D) the number of workers in country X is lower than the number of workers in Country Y

Question 2

Angelina, age seven, decides to dress up like Princess Fiona for Halloween. What is the opportunity cost of her decision?
 
  A) the cost of the costume
  B) zero, because seven-year-olds don't have opportunity costs
  C) the fact that she can't dress up like Dora the Explorer, her second choice
  D) the cost of the Lady Gaga costume which she did not want
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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akemokai

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

C


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rmenurse

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Reply #2 on: Jun 30, 2018
Thank you


akemokai

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Reply #3 on: Jun 30, 2018
No problemo


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