Nation A's real GDP was $520 billion in 2015 and $550 billion in 2016. Its population was 150 million in 2015 and 155 million in 2016. On the other hand, Nation B's real GDP was $200 billion in 2015 and $210 billion in 2016; and its population was 53 million in 2015 and 55 million in 2016. Which of the following statements is true? Nation A's and Nation B's GDP per capita both decreased from 2015 to 2016. Nation A's and Nation B's GDP per capita both increased from 2015 to 2016. Nation A's GDP per capita increased from 2015 to 2016, while Nation B's decreased. Nation B's GDP per capita increased from 2015 to 2016, while Nation A's decreased.

Nation A's real GDP was $520 billion in 2015 and $550 billion in 2016. Its population was 150 million in 2015 and 155 million in 2016. On the other hand, Nation B's real GDP was $200 billion in 2015 and $210 billion in 2016; and its population was 53 million in 2015 and 55 million in 2016. Which of the following statements is true? Nation A's and Nation B's GDP per capita both decreased from 2015 to 2016. Nation A's and Nation B's GDP per capita both increased from 2015 to 2016. Nation A's GDP per capita increased from 2015 to 2016, while Nation B's decreased. Nation B's GDP per capita increased from 2015 to 2016, while Nation A's decreased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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