Last year, real GDP per person was $4,200. The year before it was $4,000. By what percentage did real GDP per person grow during the period? a. 200 percent b. 10 percent c. 5 percent d. 50 percen
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Last year, real GDP per person was $4,200. The year before it was $4,000. By what percentage did real GDP per person grow during the period?
a. 200 percent
b. 10 percent
c. 5 percent
d. 50 percent.
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- The real GDP in 2010 was $1,800 billion and $1,944 billion in 2011.What is the growth rate in real GDP measured in percentage change? Question 9Answer a. 6% b. 7% c. 5% d. 8%If all quantities produced rise by 5 percent and allprices fall by 5 percent, which of the following bestdescribes what occurs?a. Real GDP rises by 5 percent, while nominalGDP falls by 5 percent.b. Real GDP rises by 5 percent, while nominalGDP is unchanged.c. Real GDP is unchanged, while nominal GDP risesby 5 percent.d. Real GDP is unchanged, while nominal GDP fallsby 5 percent.Course: Macroeconomics Find GDP per capita when the population is 1 billion and GDP is $3 trillion.
- Please refer to the table to answer the question. Year Real GDP 1 $ 400 million 2 $ 425 million Using the rule of 72, this economy’s real GDP will double in 6.25 years. 2.88 years. 8.68 years. 11.52 years.Please no written by hand The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the above The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the aboveExplain how our standard of living depends upon our level of real GDP per person but there might not be a one-to-one relationship between the standard of living and real GDP per person. Give examples of things that can affect one but not the other.
- What are three generators of economic growth? List and explain them. What are three determinants of business investment? List and explain themRefer to Table 4.3 “The Model’s Prediction for Per Capital GDP” on page 83. Why is the “observed per capita GDP” in the last column 1.000 for the U.S.? A. The U.S. per capita GDP was $1,000 in real terms for the year given in the table B. It means the U.S. economy produces 100% of what it’s supposed to produce C. It means the U.S. economy uses 100% of all available capital in the country D. U.S. values are set, or normalized, to 1 while the other countries’ values are all relative to the U.S. valuesIf all quantities produced rise by 10 percent and all pricec fall by 10 percent, which of the following occurs?a.Real GDP rises by 10 percent,while nominal GDP falls by 10 percent.bReal GDP rise by 10 percent,while nominal gdp is unchanged.c.Real GDP is unchanged,while nominal GDP rises by 10 percent.d.Real GDP is unchanged,while nominal GDP falls by 10percent.
- According to the rule of 70 and 72, a 10% annual increase in real gdp would lead to a doubling of real gdp in how many years?Suppose A, B and C are quantities that change over time. It can be shown that if A = BC then the percent growth in A equals the percent growth in B plus the percent growth in C. Suppose that GDP grows at 6% and population grows at 2%. Then what percent does GDP per person grow at?Richland’s real GDP per person is $10,000 and Poorland’s real GDP per person is $5,000. However Richland is growing at 1% per year and Poorland is growing at 3% per year. Compare real GDP per person after 20 years and after 40 years. Please enter your answers as numerical responses rounded to the nearest dollar, and do not type out your answer as words. (ie. $13,452 not "Thirteen thousand four hundred fifty-two dollars"). What is Richland's Real GDP after 20 years? What is Richland's Real GDP after 40 years? What is Poorland's Real GDP after 20 years? What is Poorland's Real GDP after 40 years?
