If the U.S. population grew at a 0.9 percent during 2006 and real GDP grew at a 4.4 percent during the same period, what was the growth rate of real GDP per person?
A) 1.6 percent.
B) 7.75 percent.
C) 3.5 percent.
D) 6 percent.
E) 0 percent.
Ans: C) 3.5 percent.
You might also like to view...
Suppose the economy is in long-run and short-run equilibrium. The Fed changes its policy by raising the difference between the discount rate and the federal funds rate. In the long run we would expect to observe
A) a higher real national income. B) a lower real national income. C) a higher price level. D) a lower price level.
Economic development encompasses which of the following measures?
a. The political environment b. All of the answers are correct. c. Education d. Economic growth
Refer to the above table. What is the GDP price index in Year 1?
105.2 111.5 108.3 109.6
If MPC = 0.80, how much should government spending change to increase real GDP by $500?
A. ?100. B. +80. C. ?80. D. +100.