How can a poor country have a high gross domestic

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Unformatted text preview: arks, “But I thought China was a poor country. How can a poor country have a high gross domestic product?” • How can a country have a high GDP and be poor too? 2:34 P.M. Beverlee Smith picks up the phone to call her parents, both of whom are retired. When her father answers the phone, Beverlee blurts out, “I got the job. And I got the salary I asked for—$60,000.” Her father replies, “That’s a great salary—you’re rich. After all, your mother and I lived comfortably on my first salary of $8,000.” • What mistake is Beverlee’s father making in comparing his first salary (years ago) with her salary today? 8:00 P.M. Jimmy and Ellie are in their seats in the dark movie theater as the trailers play. They’re waiting for the start of the movie. Ads for the movie have been running on television for weeks. Jimmy turns to Ellie and whispers, “I heard that this movie might be the biggest box office hit of all time—even bigger than Titanic.” • What’s the best way to compare the gross receipts of two movies? 11:03 P.M. Sam is watching a report on th...
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This document was uploaded on 01/16/2014.

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