Suppose a nation's population grows by 2 percent and, at the same time, its GDP grows by 5 percent. Approximately how fast will real GDP per person increase?
A) 2 percent per year
B) 3 percent per year
C) 5
D) 10 percent per year
Correct Answer:
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Q1: Suppose a country is producing $20 million
Q4: If real GDP per person is growing
Q4: The Rule of 70 is used to
A)
Q5: If a nation's population grows, then,
A) there
Q6: In 2005, Armenia had a real GDP
Q7: In 2005, Armenia had a real GDP
Q8: Which of the following is used to
Q9: The best definition for economic growth is
A)
Q10: We are interested in long- term growth
Q11: In 2005, Armenia had a real GDP
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