2) The Penn World Table includes several GDP figures. Suppose that you want to compare the standard of living in the Netherlands in 1985 with that of Poland in 2015. Which type of GDP is the best choice? a) CGDP° per capita, b) RGDP° per capita. c) RGDPN^ per capita. d) CGDP° per capita.
2) The Penn World Table includes several GDP figures. Suppose that you want to compare the standard of living in the Netherlands in 1985 with that of Poland in 2015. Which type of GDP is the best choice? a) CGDP° per capita, b) RGDP° per capita. c) RGDPN^ per capita. d) CGDP° per capita.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2) The Penn World Table includes several GDP figures. Suppose that you want to compare the standard of living in the Netherlands in 1985 with that of Poland in 2015. Which type of GDP is the best choice?
a) CGDP° per capita,
b) RGDP° per capita.
c) RGDPN^ per capita.
d) CGDP° per capita.
3) The Penn World Table calculates world prices in dollars by writing equations for the prices in which they suppose that they know
a) the current exchange rates
b) the nominal GDPs
C) the real GDPs.
d) the
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