Nation A's real GDP was $520 billion in Year 1 and $550 billion in Year 2. Its population was 150 million in Year 1 and 155 million in Year 2. On the other hand, Nation B's real GDP was $200 billion in
Year 1 and $210 billion in Year 2; and its population was 53 million in Year 1 and 55 million in Year 2.
Which of the following statements is true?
A) Nation A's real GDP growth in Year 2 is higher than Nation B's.
B) Nation B's real GDP growth in Year 2 is higher than Nation A's.
C) Nation A's real GDP growth in Year 2 is identical to Nation B's.
D) Nation A's and Nation B's real GDP growth rates in Year 2 are both higher than 10 percent.
Correct Answer:
Verified
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