A nation's real GDP was $250 billion in 2014 and $265 billion in 2015. Its population was 120 million in 2014 and 125 million in 2015. What is its real GDP per capita in 2015?
A. $2,120 per person
B. $212 per person
C. $205 per person
D. $21,200 per person
Answer: A
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According to Thomas Sargent and other new classical economists,
a. a credible policy to provide low stable money growth can exist with a fiscal policy that generates large deficits. b. a credible policy to provide low stable money growth cannot coexist with a fiscal policy that generates large deficits. c. there is no need for a credible, noninflationary monetary policy to control the government budgetary deficit. d. None of the above
A movement from point J to point M would represent
A. an increase in consumer goods, but not capital goods.
B. an increase in capital goods, but not consumer goods.
C. an increase in both capital goods and consumer goods.
D. no increase in either capital goods or consumer goods.
Which of the following does not occur in resolving a debt crisis?
A) Debts are restructured B) Repayment periods are shortened C) Interest rates are reduced D) Some partial debt forgiveness
Since 1950, the volume of world trade and the volume of world real GDP
A. have both increased, but the volume of world trade has increased faster than the volume of world real GDP. B. have both decreased at roughly the same rate. C. have both increased at roughly the same rate. D. have both increased, but the volume of world trade has increased more slowly than the volume of world real GDP.