Assume That the Real Output of a Developing Nation Increases

question 200

Multiple Choice

Assume that the real output of a developing nation increases from $120 billion to $140 billion, while its population expands from 100 to 110 million. As a result, real income per capita has increased by about

• A)$56 per person.
• B)$64 per person.
• C)$72 per person.
• D)$88 per person.

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Definitions:

Sales Taxes

Taxes imposed on the sale of goods and services that are collected by retailers and passed on to the government.

Property Taxes

Taxes levied by local governments based on the value of property, including land and buildings, owned by individuals or companies.

Attorney Fees

Payments made to lawyers for legal services rendered.

Graded

A term typically used in education to describe the evaluation of work or performance by assigning a level, score, or category.