Solved

If a Country's Real GDP Is Rising by 3% Per

Question 24

Multiple Choice

If a country's real GDP is rising by 3% per year while its population is rising at 5% 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:

verifed

Verified

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

Related Questions

Q9: Because of the productivity slowdown in the

Q21: If real GDP per capita in the

Q23: The economic growth model predicts that _

Q39: Lack of investment in strong education and

Q40: Figure 22-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7397/.jpg" alt="Figure 22-1

Q59: Human capital refers to the percentage of

Q109: The Industrial Revolution<br>A)marked the beginning of significant

Q162: Figure 22-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7397/.jpg" alt="Figure 22-4

Q232: Explain how market economies are generally better

Q233: Which of the following is an example