Multiple Choice
In 1961, real GDP totaled $575 billion and in 2011 it totaled $1,255 billion. Between 1961 and 2011, the population increased from 50 million to 100 million. Between 1961 and 2011, the standard of living based on real GDP per person
A) increased from $11,500 to $12,550.
B) decreased from $125,500 to $28,750.
C) increased by about 118 percent.
D) decreased by 9 percent.
E) increased by over 300 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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