Which of the following is a likely result of a nation's real GDP increasing more rapidly than its population? Check all that apply. O Quality of environment improves. GDP per person declines. Standard of living increases. O Variety of goods and services expands.

Economics For Today
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ISBN:9781337613040
Author:Tucker
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Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
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Which of the following is a likely result of a nation's real GDP increasing more rapidly than its population? Check all that apply.
Quality of environment improves.
OGDP per person declines.
O Standard of living increases.
Variety of goods and services expands.
Transcribed Image Text:Which of the following is a likely result of a nation's real GDP increasing more rapidly than its population? Check all that apply. Quality of environment improves. OGDP per person declines. O Standard of living increases. Variety of goods and services expands.
The following graph shows a production possibilities curve for a hypothetical country.
Suppose that due to an increase in human capital, a country experiences economic growth.
Adjust the following graph to show the effect of advances in human capital on the economy's production possibilities curve.
Consumption goods
PPC
Capital goods
6
PPC
Transcribed Image Text:The following graph shows a production possibilities curve for a hypothetical country. Suppose that due to an increase in human capital, a country experiences economic growth. Adjust the following graph to show the effect of advances in human capital on the economy's production possibilities curve. Consumption goods PPC Capital goods 6 PPC
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