Solved

Last Year Country a Had a Nominal GDP of R600

Question 55

Multiple Choice

Last year country A had a nominal GDP of R600 billion, a GDP deflator of 150 and a population of 40 million.Country B had a nominal GDP of R720 billion, a GDP deflator of 120 and a population of 50 million.From these numbers which country is likely to have had the higher standard of living?


A) Country A because it had the higher nominal GDP per person.
B) Country B because it had the higher nominal GDP per person.
C) Country A because it had the higher real GDP per person.
D) Country B because it had the higher real GDP per person.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions