As of 2006,using Real GDP Per Person as a Measure,we

question 113

Multiple Choice

As of 2006,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 Mali 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:

Measurable

Capable of being quantified or precisely assessed.

Social Responsibility Pyramid

A framework suggesting that businesses are responsible to their stakeholders in a hierarchical manner, starting from economic, legal, ethical, to philanthropic responsibilities.

Milton Friedman

was an American economist known for his strong belief in free-market capitalism and for being a leading proponent of monetarism.

Economic Responsibility

Refers to the duty of organizations to make decisions that benefit the financial health of both the company and the wider economy.