Real GDP Per Person Can Increase

question 1

Multiple Choice

Real GDP per person can increase:

• A)only if the share of the population employed increases.
• B)only if the share of the population employed decreases.
• C)only if average labor productivity increases.
• D)if the share of population employed and/or average labor productivity increases.

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Definitions:

Ultra Vires Doctrine

A principle stating that acts performed beyond the powers or authority granted by law or under a corporate charter are void or voidable.

Authorized Conduct

Actions or behaviors that are officially approved or sanctioned by an authoritative entity.

Corporation Statutes

Laws enacted by a legislature that dictate the formation, organization, and governance of corporations.

MBCA

Stands for the Model Business Corporation Act, which is a model set of laws prepared by the Committee on Corporate Laws of the American Bar Association, guiding the governance and regulation of corporations in the United States.