1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Flyer Company sells a product in a competitive marketplace. Market analysis indicates that its product would probably sell at $4
Marrrta [24]

Answer:

Option (B) is correct.

Explanation:

Given that,

Selling price per unit = $48

Desired profit margin on sales = 12.5%

Flyer’s current full cost for the product = $44 per unit

Profit = Selling price × profit margin

         = $48 × 12.5%

         = $6

Target cost of unit = Selling price - Profit

                               = $48 - $6

                               = $42

8 0
3 years ago
An increase in​ income, holding prices​ constant, can be represented as A. a change in the slope of the budget line. B. a parall
Lisa [10]

Answer:

Option (B) is correct.

Explanation:

If there is an increase in the income of the consumer then as a result there is a parallel shift in the budget line. This increase in income will increase the real purchasing power of the consumers and hence, this would increase the quantity of two goods consumed in an equal proportion.

Other factors remains the same, an increase in the income level of the consumer will increase the consumption of both the goods because the prices of both the goods are constant.

5 0
3 years ago
Grace is waiting in her office to meet Joseph, the new sales representative for Powerslam shoe company. Joseph arrives promptly
liraira [26]

Answer : Building rappport

Explanation:

4 0
3 years ago
Read the thesis statement from a historical essay. Determine which type of claim the author is making (claim of fact, definition
mafiozo [28]

Answer:

im not 100% but think this is right

Explanation:

the author is making a claim of fact, because he is claiming that  provides no economic benefits.  im not sure about the second part

5 0
2 years ago
Data pertaining to a company's joint production for the current period follows
Ainat [17]

Answer:

a. $295.81

Explanation:

Total market value = (310 * 10.2) + (260 * 20.4)

Total market value = 3,162 + 5,304

Total market value = 8466

Joint cost allocated to L on basis of value

= [ (310 * 10.2) / 8,466] * 792

= (3,162 / 8,466) * 792

= $295.81

4 0
3 years ago
Other questions:
  • Jamie is considering leaving her current job, which pays $75,000 per year, to start a new company that develops applications for
    6·1 answer
  • Wait a little while and the fruit will fall into your hand meaning
    13·1 answer
  • Negative feedback received during the final evaluation of the decision indicates:______A. the decision was a bad one. B. impleme
    7·2 answers
  • List three careers that require knowledge of science.
    11·1 answer
  • Inflation is best understood as the rate at which __________.
    12·1 answer
  • The additional benefit of producing one more roast beef sandwich at a local deli is $2. The additional cost of producing one mor
    15·1 answer
  • Identify whether you think you may or may not become an entrepreneur and launch your own
    8·1 answer
  • Given the following financial structure for Company S for all of 2016:
    11·1 answer
  • Stephen bought 85 shares of United Rotators at $6. 34 each, 110 shares of Dowc Beverage Co. At $13. 13 apiece, and 133 shares of
    15·1 answer
  • At the output level defining allocative efficiency: Group of answer choices the maximum willingness to pay for the last unit of
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!