7. Suppose that over the last ten years, the economic productivity has been growing faster in Atlantis than in Latveria while the population in both countries stays the same. a. It follows that real GDP per person in Atlantis must be higher than in Latveria. b. It follows that real GDP per person in Atlantis grew faster than in Latveria. c. It follows that the standard of living in Atlantis must be higher than in Latveria. d. It follows that the standard of living in Atlantis must be lower than in Latveria.

7. Suppose that over the last ten years, the economic productivity has been growing faster in Atlantis than in Latveria while the population in both countries stays the same. a. It follows that real GDP per person in Atlantis must be higher than in Latveria. b. It follows that real GDP per person in Atlantis grew faster than in Latveria. c. It follows that the standard of living in Atlantis must be higher than in Latveria. d. It follows that the standard of living in Atlantis must be lower than in Latveria.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 2P

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