GDP is useful in evaluating which of the following?

The production of firms that are owned by domestic nationals but located overseas
Increases in domestic consumption
An economy of a country producing a significant amount abroad
The quality of life or the well-being of a population




Which of the following has NOT influenced global poverty rates?

Income polarity
Gini coefficient
Differential access to health care
Increasing population




Because of its climate, Brazil has the comparative advantage in coffee production, while the United States has the comparative advantage in wheat production.



This would make which of the following statements about comparative advantage FALSE?

If workers in Brazil produce wheat, they will have to give up a significant amount of coffee production.
The United States can obtain coffee at a lower opportunity cost than if it produced it itself.
Both countries should trade based on comparative advantage.
Brazil gives up more wheat than the United States when it produces coffee.