The following is the graph of the natural log of UK real GDP per capita between 1875 and 2014: Based on this information, which of the following statements is correct? Log of real GDP per capita 11.0 10.5 10.0 95 9.0 8.5 8.0 75 ა C Year Show Transcribed Text y-0.0156x 7.7734 R-0.9445 (A) The graph shows that real GDP per capita in the UK in 1955 was about £8,000. (B) The slope of the best-fit straight line is the average annual growth rate. (C) The graph shows that the average growth rate was lower in the decades after 1921 than in the decades before 1918. (D) The graph of real GDP per capita plotted using a ratio scale would look very different to the graph above.

The following is the graph of the natural log of UK real GDP per capita between 1875 and 2014: Based on this information, which of the following statements is correct? Log of real GDP per capita 11.0 10.5 10.0 95 9.0 8.5 8.0 75 ა C Year Show Transcribed Text y-0.0156x 7.7734 R-0.9445 (A) The graph shows that real GDP per capita in the UK in 1955 was about £8,000. (B) The slope of the best-fit straight line is the average annual growth rate. (C) The graph shows that the average growth rate was lower in the decades after 1921 than in the decades before 1918. (D) The graph of real GDP per capita plotted using a ratio scale would look very different to the graph above.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 1P

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