Last Year the Imaginary Country of Basova Had a Population

question 54

Multiple Choice

Last year the imaginary country of Basova had a population of 10,000,6,000 people worked 8 hours a day,and produced a real GDP of $30,000,000.The imaginary country of Andovia had a population of 12,000,8,000 people worked 8 hours a day,and produced a real GDP of $38,000,000.Which of the following is correct?

• A)Basova had higher productivity and higher real GDP per person.
• B)Andovia had the higher productivity and higher real GDP per person.
• C)Basova had the higher productivity while Andovia had the higher real GDP per person.
• D)Andovia had the higher productivity while Basova had the higher real GDP per person.

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Definitions:

Net Present Value

A calculation used to assess the profitability of an investment or project, considering the time value of money by discounting future cash flows to their present value.

Selling Price

The amount of money charged to the buyer for a product or service, typically set above the cost to include a profit margin.

Credit Terms

The conditions under which a seller will extend credit to a buyer, including the repayment period, interest rate, and the amount of payment.

Net 20

A payment term indicating that the full payment is due within 20 days from the invoice date.