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) increased by over 300 percent.
C) increased by about 118 percent.
D) decreased from $125,500 to $28,750.
E) decreased by 9 percent.
Correct Answer:

Verified
Correct Answer:
Verified
Q25: You hire some of your friends to
Q26: To measure GDP by using the income
Q27: One reason the total sum of the
Q28: When total output,income,employment,and trade decline for 6
Q29: Nominal GDP increases<br>A)only if total production increases.<br>B)only
Q31: Which of the following is NOT directly
Q32: _ is most likely to contribute to
Q33: If the purchase of used goods was
Q34: Using the chained-dollar method to calculate real
Q35: When industrial activity increases,<br>A)GDP decreases because of