Suppose the population of country XYZ falls from 10 million to 9 million.If the country's Real GDP falls from $325 billion to $297 billion during this same period,the result is _________________ economic growth.
A) both absolute economic growth and per-capita real
B) absolute economic growth,but not per-capita real
C) per-capita real economic growth,but not absolute
D) neither absolute economic growth nor per-capita real

Question

Quizplus · Accepted Answer

Absolute economic growth refers to an increase in the total output of an economy, which did not occur since the Real GDP fell from $325 billion to $297 billion. Per-capita real economic growth refers to an increase in the amount of goods and services produced per person, which did occur since the Real GDP per person increased from $32,500 ($325 billion / 10 million) to $33,000 ($297 billion / 9 million).

Suppose the Population of Country XYZ Falls from 10 Million