Which of the following statements best characterizes the variations in real GDP per person and its rate of growth across countries?
A)Real GDP per person differs widely across countries, but the growth rate of real GDP per person is similar across countries.
B)Real GDP per person is very similar across countries, but the growth rate of real GDP per person differs widely across countries.
C)Real GDP per person and the growth rate of real GDP per person are similar across countries.
D)Real GDP per person and the growth rate of real GDP per person vary widely across countries.

Question

Quizplus · Accepted Answer

Real GDP per person and the growth rate of real GDP per person vary widely across countries. Different factors such as natural resources, technology, education, investment, and policies affect the level and rate of economic growth in each country. This leads to large diversity in economic development levels, as well as differences in the growth rates of various countries.

Which of the Following Statements Best Characterizes the Variations in Real