Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Itspopulation was 150 million in 2014 and 155 million in 2015. On the other hand,Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and itspopulation was 53 million in 2014 and 55 million in 2015. Which of the followingstatements is true?A) Marketopia's and Econland's GDP per capita both decreased from 2014 to2015.B) Marketopia's GDP per capita increased from 2014 to 2015, while Econland'sdecreased.C)Marketopia's and Econland's GDP per capita both increased from 2014 to2015.D)Econland's GDP per capita increased from 2014 to 2015, while Marketopia'sdecreased.

GDP(gross domestic product) per capita is obtained by dividing the GDP by population. It is useful…

Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its population was 150 million in 2014 and 155 million in 2015. On the other hand, Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and its population was 53 million in 2014 and 55 million in 2015. Which of the following statements is true? A) O A) Marketopia's and Econland's GDP per capita both decreased from 2014 to 2015. B) Marketopia's GDP per capita increased from 2014 to 2015, while Econland's decreased. C) Marketopia's and Econland's GDP per capita both increased from 2014 to 2015. Econland's GDP per capita increased from 2014 to 2015, while Marketopia's OD) decreased.

Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its population was 150 million in 2014 and 155 million in 2015. On the other hand, Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and its population was 53 million in 2014 and 55 million in 2015. Which of the following statements is true? A) O A) Marketopia's and Econland's GDP per capita both decreased from 2014 to 2015. B) Marketopia's GDP per capita increased from 2014 to 2015, while Econland's decreased. C) Marketopia's and Econland's GDP per capita both increased from 2014 to 2015. Econland's GDP per capita increased from 2014 to 2015, while Marketopia's OD) decreased.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 6CQQ

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