1. Which of the following statements is most likely to be true? A.GDP considers
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1. Which of the following statements is most likely to be true? A.GDP considers the value of all the goods and services produced by citizens of a country, on its land or on foreign land, in a single year. B.If the cost of living is low, a country's per capita GDP adjusted for PPP would be higher than its nominal per capita GDP. C.If a country has a large black, or underground, market for transactions, its official GDP may be overestimated. D.If Country A has a higher GDP than Country B, it must also have a higher per capita GDP. 2. “Third World” was a term coined after World War II which referred to: A.the states aligned with neither the democratic-industrial countries nor with the communist-socialist states. B.the bloc of nations that had been colonial powers and wielded a great deal of economic and political power. C.the Eastern bloc of the communist-socialist states. D.the unknown nations (cultural entities) of indigenous peoples living within or across national state boundaries. E.the bloc of democratic-industrial countries within the American influence sphere. 3. “Fourth World” was a term coined after World War II which referred to: A.the Eastern bloc of the communist-socialist states. B.the bloc of democratic-industrial countries within the American influence sphere. C.the states that aligned with neither the democratic-industrial countries nor with the communist-socialist states. D.the unknown nations (cultural entities) of indigenous peoples living within or across national state boundaries. E.the bloc of nations that had been colonial powers and wielded a great deal of economic and political power.Explanation / Answer
B.If the cost of living is low, a country's per capita GDP adjusted for PPP would be higher than its nominal per capita GDP. The value of all the goods and services produced by citizens of a country, on its land or on foreign land, in a single year is GNP. If a country has a large black, or underground, market for transactions, its official GDP may be underestimated.If Country A has a higher GDP than Country B, it must also have a higher per capita GDP is false because it depends on population as well. A.the states aligned with neither the democratic-industrial countries nor with the communist-socialist states. D.the unknown nations (cultural entities) of indigenous peoples living within or across national state boundaries.
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