As of 2008, Using Real GDP Per Person as a Measure

question 246

Multiple Choice

As of 2008, using real GDP per person as a measure, we would classify

• A)the United States and Mexico as advanced economies and Bangladesh as a middle-income country.
• B)Canada as an advanced economy, Mexico as a middle-income country, and Pakistan as a poor country.
• C)Japan and India as advanced economies and Mexico as a poor country.
• D)Japan as an advanced economy, the United Kingdom as a middle-income country, and Argentina as a poor country.

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Definitions:

Sole Proprietor

The single person at the head of a sole proprietorship.

Cooperatives

A business organization owned and operated by a group of individuals for their mutual benefit.

S Corporation

A special designation for a corporation that elects to be taxed as a pass-through entity, avoiding double taxation on the corporate income.

Franchisee

The seller of goods or services under a trade name or trademark in a franchise.