The GDP Per Capita Tells Us

question 49

Multiple Choice

The GDP per capita tells us

• A) the amount of output each person would get if the economic pie were sliced evenly.
• B) the amount of output each worker would get if the economic pie were sliced evenly.
• C) the ratio of the maximum amount of output any person gets to the minimum amount of output each person gets.
• D) the average amount of output each person gets, adjusted for inequality.

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Definitions:

General Integer Variables

Variables in mathematical models that can take only integer values, often used in optimization problems.

Nonsmooth Models

Mathematical or computational models characterized by abrupt changes, making them not continuously differentiable or lacking smooth gradients.

Excel Functions

Predefined formulas in Microsoft Excel that perform calculations using specific values, in a particular order, to return a result.

OptQuest

A software tool for optimization that uses various algorithms to find the best solutions to complex problems.