If real GDP per capita measured in 2000 dollars was $6,000 in 1950 and $48,000 in 2010,we would say that in the year 2010,the average American could buy ________ times as many goods and services as the average American in 1950.

Question

Quizplus · Accepted Answer

We can find the answer by calculating the ratio of the real GDP per capita in 2010 to the real GDP per capita in 1950:

$48,000 / $6,000 = 8

Therefore, the average American could buy 8 times as many goods and services in 2010 as they could in 1950. So, the answer is choice C) 8.

If Real GDP Per Capita Measured in 2000 Dollars Was