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Help with a few economics questions

 
 
Aros97
 
Reply Thu 15 Oct, 2015 04:13 pm
I can't seem to figure out the last 5 questions, would appreciate any help at all.

One can argue that the average American today is “richer” than the richest American 100 years ago, given that 100 years ago,
A. people’s nominal incomes were, on average, much lower than they are today.

B. personal fortunes were not accurately measured.

C. many of the goods and services that we now take for granted were not available.

D. international trade had not yet begun to flourish
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Proprietary technology is technology
A. that the government prohibits firms from using.

B. conserves natural resources.

C. that is useful while other types of technology are outdated.

D. that is known or controlled only by the company that discovered it.
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Total income from the domestic production of final goods and services equals
A. only household expenditures for these goods.

B. only household and business expenditures for these goods.

C. only household and government expenditures for these goods.

D. the expenditures for these goods whoever buys them.
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Over the last ten years productivity grew more slowly in Iberia than in Aire while the population and total hours worked remained the same in both countries. It follows that
A. real GDP per person must be lower in Iberia than in Aire.

B. real GDP per person grew more slowly in Iberia than in Aire.

C. the standard of living must be higher in Iberia than in Aire.

D. All of the above are correct.
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Income generated by a nation’s domestic production
A. is less than its domestic production.

B. is equal to its domestic production.

C. is greater than its domestic production.

D. could be less than, equal to, or greater than its domestic production.
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