Which of the Following Is Indicated by the Data on Real

question 17

Multiple Choice

Which of the following is indicated by the data on real income per person for various countries over the past 100 or so years?

• A)If,in a relatively poor country,real income per person had grown by 3.5 percent per year for the last 100 years,it would be a relatively rich country today.
• B)Rich countries became richer and poor countries became poorer.
• C)In the United States,real income per person today is about four times as high as it was 120 years ago.
• D)All of the above are correct.

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Definitions:

Percent Change

A mathematical calculation that indicates the degree of change over time, represented as a percentage.

Sales

Sales represent the transactions involving the exchange of goods or services for money, reflecting the primary revenue-generating activities of a business.

Acid-test Ratio

A financial metric that measures a company's ability to pay off its current liabilities with its quick assets, excluding inventory.

Quick Assets

Quick assets are assets that can rapidly be converted into cash, excluding inventory and pre-paid expenses, often used in calculating liquidity measures.