Real GDP per person in the United States was $9864 in 1950.Over the next 48 years,it grew at a compound annual rate of 2.0%.If,instead,real GDP per person had grown at an average compound annual rate 2.5%,then real GDP per capita in the United States in 1998 would have been approximately __________ larger.
A) $3,420
B) $6,750
C) $9,900
D) $25,500
E) $32,270
Correct Answer:
Verified
Q32: In symbolic terms,where Y equals real GDP,POP
Q33: The key variable in determining changes in
Q34: If a nation's real GDP is growing
Q35: Real GDP per person equals average labour
Q36: Real GDP per person in Westland is
Q38: Suppose Botswana doubles its income in 8
Q39: Small differences in growth rates of real
Q40: Growth of real GDP per person is
Q41: The table below provides data on Canada's
Q42: Real GDP was $4,719 billion in Year
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