Multiple Choice
If a country's real GDP is rising by 2% per year while its population is rising at 7% per year,which of the following is true?
A) The country's standard of living is falling.
B) The country's standard of living is rising.
C) Growth in nominal GDP outweighs growth in the population.
D) Growth in nominal GDP is less than the growth in the population.
Correct Answer:
Verified
Correct Answer:
Verified
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