Most Economists Agree That an Effective Way of Comparing Income

question 15

Multiple Choice

Most economists agree that an effective way of comparing income levels between countries around the world is through the use of:

• A) employment statistics.
• B) GDP divided by GNP.
• C) foreign investment.
• D) purchasing power parity.

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Definitions:

Torts against Economic Interest

Legal wrongs committed that cause financial harm or damage to a person’s economic position.

Strict-liability

A legal doctrine in tort law that holds a party responsible for their actions or products, without the need to prove negligence or fault.

Inherently Dangerous

Activities or items possessing potential for significant harm due to their nature.

Unreasonable Risk

A level of danger that exceeds what is considered acceptable or appropriate under given circumstances.