Suppose that 25 years ago a country had nominal GDP of 1000, a GDP deflator of 200, and a population of 100. Today, that country has a nominal GDP of 3000, a deflator of 400, and a population of 150. What happened to the real GDP per person?
A) It more than doubled.
B) It rose, but less than doubled.
C) It fell.
D) It did not change.
Correct Answer:
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