A rise in the GDP per capita over time most likely to indicate Select one: O a. that the national output has risen faster than increase in population b. that nominal GDP has increased more than real GDP C. a fall in the living standards of people d. that the gap between the rich and the poor has increased

A rise in the GDP per capita over time most likely to indicate Select one: O a. that the national output has risen faster than increase in population b. that nominal GDP has increased more than real GDP C. a fall in the living standards of people d. that the gap between the rich and the poor has increased

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 2P

See similar textbooks

Related questions

Q: The Mount Emerald Wind Farm will be Queensland's largest wind farm once construction is completed.…

A: Renewable energy plays a very important lesson in economics by fostering sustainability, decreasing…

Q: Following information relating to a type of raw material is available: Annual demand 2,400 units…

A: Annual Demand (D) = 2400 unitsUnit Price = 2400Per Order Cost (O)= 400Storage Cost = 2% Interest…

Q: How are the annual revenues and expenses estimated?

A: The annual revenue can be estimated by multiply the units of goods and services sold to the price…

Q: A bottle of wine costs $14.00 and yields 5 ‘by the glass’ servings. To have a 25% FC what would I…

A: Price can be calculated by using the following formula.

Q: Consumption/Savings 1400 1200 1000 800 600 400 200 0 -200 200 400 600 800 1000 1200 1400 1600 Income…

A: Let's break down the income and consumption/savings data to understand the financial…

Q: How to calculate Statutory Rate for company

A: The Statutory Rate for a company is imposed by law on income that is taxable and falls within a…

Q: allon) $2.20 $2.00 $1.80 $1.60 $1.40 $1.20 $1.00 D i. 300 400 500 600 700 800 Quantity of Gasoline…

A: Disclaimer :- since you asked multipart questions we are solving first 3 subparts as per given…

Q: do fast don't use chatgpt answer,

A: An indifference curve is a graphical representation of the different combinations of two goods that…

Q: Is it rational to buy more of something if the price goes up? Why or Why Not?

A: Rational: In the context of economics and decision-making, being rational means making choices and…

Q: How do sales taxes typically apply in a business environment?

A: Sales tax is a consumption tax imposed by the government on the sale of goods and services. It is…

Q: Which type of graph will be suitable for representing the above sales revenue by regions

A: Bar Chart is generally used to compare the data set on multiple parameters. As the data given covers…

Q: Figure A Figure B Figure C Price (dollars per unit) 157 Price (dollars per unit) 15 14- 13- Price…

A: There are four types of market structures: Perfect Competition: The market in this type of…

Q: Calculate the income taxes that a person has to pay considering the table below- (a) If a person's…

A: Taxable income is the base income upon which tax is levied. It includes some or all items of income…

Q: You work for the Committee for Economic Evaluation in the small nation of Kinsdale. Your current job…

A: GDP is the gross domestic product. GDP is defined as the monetary value of all the goods and…

Q: Suppose two young people graduate from high school. One start working immediately and earns $1500…

A: To calculate the time it will take for the second student to make up the cost of his education and…

Question

A rise in the GDP per capita over time most likely to indicate
Select one:
O a. that the national output has risen faster than increase in population
b. that nominal GDP has increased more than real GDP
C.
a fall in the living standards of people
d.
that the gap between the rich and the poor has increased

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
Use an example to explain why, after periods of rapid growth, a low-income country that has not caught up to a high-income country may feel poor.
Between 2000 and 2017, real GDP per person grew, on average, 1% per year in the United States. Did this GDP growth benefit all Americans? What does this tell us about the limitations of GDP as a measure of living standards?
15. Suppese that in 1960 Japan had an initial per capita GDP of $12.000 per year and China had a per capita GOP of 55.000. But China is grewing at 5 percent per year and iapan is growing at 3 percent per year. ia richer in 2010 with a per capita GDP of eporoni mately a lapan $5.000 a. China: $73,500 a. lapen: $31,500 . Not enough information is given. e China $5,000
Please no written by hand The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the above The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the above
5) Purpleland's Real GDP was 196 billion dollars in 2006 and 206 billion dollars in 2007. Purpleland's population growth rate was 2% in 2007. a. If Purpleland's 2007 economic growth rate and population growth rate are maintained, how long will it take for Purpleland's RGDP/capita to double? menu Ineuo end of b. If Purpleland's 2007 economic growth rate is maintained but the population growth rate falls to 1.5%, how long will it take for Purpleland's RGDP/capita to double? art
Over the past 100 years, in the United States the average growth rate cof grew at a faster rate than Select one: a. real GDP; the population O b. inflation; real GDP O c the population: real GDP C. O d. real GDP; nominal GDP
Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP r capita be in 70 years? S Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year) If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year)
Assume that a very tiny and very poor DVC has income per capita of $300 and total national income of $3 million. Instructions: Round your answers to the nearest whole number. a. How large Is its population? 10000 b. If Its population grows by 2 percent in some year while its total income grows by 4 percent, what will be its new Income per capita rounded to full dollars? c. If the population had not grown during the year, what would have been its income per capita?
If real GDP increases from $100 billion to $105 billion, and the population increases from 100 million to 102 million, what is the grwoth rate of real GDP per person? The growth rate of real GDP person person is ____ percent.
How so gains in worker productivity lead to gains in per capita GDP? A. as workers produce, their wages will rise and they will have more disposable income for consumption, leading to a rise in GDP per Capita. B.The amount a worker can produce and that worker's income are exactly equal so that these numbers stay the same. C.The amount a worker can pproduce and that workers's income are not always exactly equal, so these numbers may differ. D. An aggregate production function describes the input of an entire economy based on various outputs such as capital, labor and technology.