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sertanlavr [38]
3 years ago
7

Suppose that over the last twenty-five years a country's nominal GDP grew to three times its former size. In the meantime, popul

ation grew by 40 percent and prices rose by 100 percent. What happened to real GDP per person?
Business
2 answers:
klemol [59]3 years ago
8 0

Answer:

b. It increased, but it less than doubled.

Explanation:

Here are the options to this question:

a. It more than doubled.

b. It increased, but it less than doubled.

c. it was unchanged.

d. It decreased.

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Nominal GDP is calculating GDP using current year prices.

Real GDP is calculating GDP using base year prices.

The question states that nominal GDP tripled and inflation doubled. Therefore, real GDP increases by about 1.5x . Population increased by 1.4x. Therefore, real GDP per person increased, but it less than doubled.

I hope my answer helps you

frez [133]3 years ago
7 0

Answer:

B. It increased, but it less than doubled

Explanation:

Real GDP per person is defined as the total economic output divided by the total number of people. It is used in roughly indicating the standard of living.

An increased in the nominal GDP 3 times its formal will lead to a proportionate increase in the GDP per person statistics. But I was a noted that there was a 100% increase in population, meaning that population doubled. This indicates that the GDP per person increased but it less than double because of the population doubling in that period of time.

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Answer:

<u>Journal entries</u>

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2. March 13 Collect on accounts receivable, $51,000.

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3. May 6 Issue shares of common stock in exchange for $10,000 cash.

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7. December 30 Pay $2,600 cash dividends to stockholders.

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Dr Supplies expense 2,500

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4 0
3 years ago
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Salsk061 [2.6K]

Answer:

take the payments over time payout

Explanation:

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8 0
3 years ago
Hourly, blue collar jobs always pay less than salaried, white collar jobs.
mr Goodwill [35]
Im pretty sure its false.
4 0
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A local theatre group wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows,
Irina-Kira [14]

Answer:

E) Market Exchange

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A trade does not necessarily imply a money exchange, it can also include goods or services that provide utility for the other party. For example, an increase in group membership will help the theater group perform better.  

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Suppose bundle A contains 5 CDs and 5 DVDs and bundle B contains 2 CDs and 6 DVDs. If a consumer is able to rank different combi
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Answer:

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Consumer has different interests, thus they may prefer either Bundle A  with same volume of CD or DVDs or bundle B with more DVDs or even neither of any.

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