Using social security administration data for selected years from 1950 and projected to 2050, the US population (in millions), can be described by P(t)= 2.53t + 162.3. The number 163.3 in the equation can be best described as A. The US population in 1950 B The current US population C. Change in the US population over the selected . D The total accumulated US population . E. Change in US population every year since 1950

Bureau of Economic Analysis in the USA is responsible for construction and maintenance of national income and product accounts (NIPA). Measurement began in the 1930s due to frustration of Roosevelt and Hoover trying to design policies to combat the Great Depression. Simon Kuznets (Nobel laureate) was commissioned to develop initial methodology and estimates. In 1947, the process became much more consistent. Methodologies have frequently been changed (improved?) as a result of advances in economics, accounting, and data collection. Past data are then revised to reflect new definitions. On the following information, calculate GNP at factor cost. Whether GNPFC derive from income method equivalent to expenditure method? S.No. Items Rs. (In Crores) 1 Private final consumption expenditure 1000 2 Net domestic capital formation (Investment) 200 3 Profit 400 4 Compensation of employers (Wages and salaries) 800 5 Rent 250 6 Government final consumption expenditure…

We measure standards of living using GDP per capita.  Using the production function, which of the following factors does NOT help to explain differences in GDP per capita  between countries: a) human capital per worker b) productivity c) inflation rates d) physical capital per worker