Question

In 2010, the imaginary nation of Bovina had a population of 5,000 and real GDP of 600,000. In 2011 it had a population of 5,200 and real GDP of 636,480. During 2011 real GDP per person in Bovina grew bya.2 percent, which is about the same as average U.S. growth over the last one-hundred years. b.4 percent, which is high compared to average U.S. growth over the last one-hundred years. c.4 percent, which is about the same as average U.S. growth over the last one-hundred years. d.2 percent, which is high compared to average U.S. growth over the last one-hundred years.

Answer 1

Answer:

b. 2 percent, which is about the same as average U.S. growth over the last one-hundred years.

Explanation:

Real gross domestic product (popularly called real GDP) is a macroeconomic computation of the real value of an economic output adjusted for price changes which means that of deflation or inflation. This adjustment changes the measure of money-value, nominal GDP, into an index for quantity of the overall output.