Assume the population growth rate is 2 per cent and the real GDP growth rate is 5 per cent.The change in standard of living,as measured by the growth rate in real GDP per person,is
A) 5 per cent.
B) 7 per cent.
C) -3 per cent.
D) 3 per cent.
E) 2.5 per cent.
Correct Answer:
Verified
Q1: The growth rate of real GDP equals
A)[(real
Q2: Economic growth is a sustained expansion of
Q6: Q7: The Rule of _ can be used Q7: Economic growth is defined as Q8: If real GDP in year 1 is Q11: The population in the current year is Q12: If real GDP grows at a faster
A) a sustained
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents