ECON 1000 Midterm: ECON 1000 Kennesaw State ECON1000 Maymester2018 Exam2B
Document Summary
Real gdp per capita in the u. s. became roughly 8. 3 times larger . Real gdp in the u. s. became roughly 26. 6 times larger. Nominal gdp in the u. s. became roughly 460. 2 times larger . More than one (perhaps all) of the above answers are correct. Lower income countries which are held back by some combination of poor economic institutions, undeveloped industrial capital, and/or an uneducated or unskilled workforce (e. g. , india, ghana, Bangladesh, and the democratic republic of the congo) are referred to as. In 2008 zimbabwe experienced an annual inflation rate of 12,563%. This is an example of hyperinflation. deflation. the rule of 72. the vicious-cycle-of-poverty. Assume that nobody else besides dave and eric was impacted by this transaction. This trade gave eric a producer"s surplus of and generated a. It follows that dave realized a ____________________ from this trade. Consider a market in which the efficient level of trade is 5,150 units.
