One Way to Achieve Faster Growth in GDP Per Person

question 272

Multiple Choice

One way to achieve faster growth in GDP per person is to increase the

• A)number of women working in the home rather than in the workforce.
• B)growth rate of the quantity of money.
• C)growth rate of human capital.
• D)growth rate of the population.
• E)limits on international trade in order to keep more of total spending on domestically produced goods.

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Definitions:

Loss-Leader Pricing

Deliberately selling a product below its customary price, not to increase sales, but to attract customers’ attention to it in hopes that they will buy other products with large markups as well.

Dumping

The act of exporting a product at a price lower than its normal value, often with the intent of undermining local markets or competitors.

Second-Market Pricing

The practice of determining the price of goods and services based on their market value in secondary, often resale, markets.

Gray Market

A situation where products are sold through unauthorized channels, often legally, but without the consent of the original manufacturer.