Please answer/explain the following
1) Country a has a GDP of $300 billion in a population of 10
million, while country B has the GDP of $3 trillion in a population
of 200 million. The per capita GDP and country and country B are
_____ and ______ respectively.
a) 15,000; 7,500
b) 15,000; 30,000
c) 30,000; 15,000
d) 7,500; 15,000
2) Consumption is spending by:
A) households on capital goods and inventories
B) government on subsidizing consumption goods
C) business on corporate social responsibility
initiatives
D) households on goods and services
3) the value, at current market prices, on the final goods and
services produced during a particular period is:
A) gross foreign factor output
B) gross domestic product
C) net national product
D) gross personal product
4) For countries A, B, C, and D, have comparable economies.
The average value of GDP deflator in the last 12 years for
countries A,B,C, and D were 133, 122, 166, and 142. Which has the
most stable economy?
A) country A
B) country B
C) country C
D) country D