Which statement best characterizes the variations in real GDP per person and its rate of growth across countries?
A) Real GDP per person differs widely across countries, but the growth rate of real GDP per person is similar across countries.
B) Real GDP per person is very similar across countries, but the growth rate of real GDP per person differs widely across countries.
C) Real GDP per person and the growth rate of real GDP per person are similar across countries.
D) Real GDP per person and the growth rate of real GDP per person vary widely across countries.

Question

Quizplus · Accepted Answer

Real GDP per person and its rate of growth vary widely across countries. Some countries have high levels of real GDP per person but low growth rates, while others have low levels of real GDP per person but high growth rates. The variation can be attributed to differences in factors such as natural resources, technology, education, and institutions that affect economic growth.

Which Statement Best Characterizes the Variations in Real GDP Per