Question

From 1948 to 2003 the United States experienced an average real GDP growth rate of 3.5 percent and Guatemala had an average real GDP growth rate of 3.6 percent from 1993 to 2003. Can we say that Guatemala's standard of living grew more than the United States' standard of living from 1993 to 2003?

		No, because we do not know the population growth rates of either country or the real GDP growth rate of the United States during 1993-2003.
		No, because we do not know the real GDO growth rate of the United States during 1993.
		Yes, clearly 3.6 percent is greater than 3.5 percent.
		Yes. since the only variable that matters for economic well-being is real GDP.

Paying sales workers based on a tournament reduces environmental risk.

True

False

In professional golf, player earnings are determined by:

		relative performance
		absolute performance
		achieving a predetermined number of strokes below par
		ability risk

Answer 1

1) Here the US growth rate is given from 1948-2003 which is 55years where as the growth rate of Guatemela is from 1993 to 2003 which is 10 years thus we also dont know the population growth in both the countries from past few years thus it is difficult to come to a point of which is having better growth.

ANswer: A [ No because we dont know the population growth rate of either countries and real GDP of US from 1993 -2003)

2) Answer: False

As the tournament is the relative performance on which payment are made . So paying them on basis of tournament will obviously have good impact on the business .

But environmental risk is pure risk which is due to environment which cannot be expected based on tournaments

3) Golf p-layer earning are always depend on the number of holes that he got in match or by winning the match which means that

Answer: Acheiving a predetermined number of strokes below par.