In Australia, Output Per Capita in 2009 Was Almost Four

question 39

Multiple Choice

In Australia, output per capita in 2009 was almost four times that in:

• A) 1950.
• B) 1900.
• C) 1850.
• D) 1990.
• E) 1970.

---

Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Binding Constraint

A restriction or limitation that affects the feasibility or optimization of a decision or system.

Market Equilibrium

A state where the quantity of goods or services supplied is equal to the quantity demanded at a particular price.

Standard Of Living

The scale of monetary assets, amenities, worldly possessions, and survival necessities allotted to a distinct class or demographic region.