120100FNORARESGPCHEHKGSWETWNNa.AVEN406080100120Relatiwe GDP per enpita to the US lewel - 1970In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in thehorizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct?O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US ineach year.O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of theUS in each year.O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and20O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.

GDP: GDP or gross domestic product is the final value of all the goods and services that are…

Answered: 100 120 Relar CDP per ega te the S l -…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...

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