In 1959, real GDP totaled $575 billion and in 2009 it totaled $1,255 billion. Between 1959 and 2009, the population increased from 50 million to 100 million. Between 1959 and 2009, the standard of living based on real GDP per person
A) increased from $11,500 to $12,550.
B) increased by over 300 percent.
C) increased by about 118 percent.
D) decreased from $125,500 to $28,750.
E) decreased by 9 percent.
Correct Answer:
Verified
Q141: The relationship between real GDP and potential
Q143: During the business cycle,
A)real GDP fluctuates around
Q146: GDP is
A)a perfect measure of the standard
Q147: Over the business cycle,
A)potential GDP fluctuates around
Q154: Although imperfect, which of the following is
Q158: In the United States, between 1959 and
Q159: The business cycle is defined as
A)changes in
Q167: The calculation of GDP excludes the value
Q171: The Great Moderation describes the period
A)of relatively
Q175: In order to be classified as a
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