macroeconomics multiple choice question 28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capita of $75,000. Which of the following is NOT a plausible reason for Country B’s higher GDP-per-capita? (A) Country B has more open and inclusive economic and political institutions. (B) Country B has more natural resource wealth. (C) Country B has lower productivity. (D) Country B has more capital.
28. Country A has a
(A) Country B has more open and inclusive economic and political institutions. (B) Country B has more natural resource wealth.
(C) Country B has lower productivity.
(D) Country B has more capital.
29. After lockdowns were declared globally in 2020, the price of oil crashed from $64 per barrel in January to $18 per barrel in April. What is the most likely reason that lockdowns contributed to the oil price crash?
(A) Supply increased due to oil companies reallocating resources to help with the COVID-19 pandemic.
(B) Supply decreased due to oil workers being furloughed.
(C) Demand increased from factories producing Personal Protective Equipment for essential workers.
(D) Demand decreased since fewer people were commuting to work.
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