If a country's real GDP per capita declines, this means that which of the following may have occurred 1. Real GDP increased but the population declined. II. Real GDP decreased but the population did not change. III. The population increased and real GDP did not change. I and II only ⒸI, II, and III II and III only OII only I and III only Neither I, II, nor III III only I only
If a country's real GDP per capita declines, this means that which of the following may have occurred 1. Real GDP increased but the population declined. II. Real GDP decreased but the population did not change. III. The population increased and real GDP did not change. I and II only ⒸI, II, and III II and III only OII only I and III only Neither I, II, nor III III only I only
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 1SCQ: Country A has export sales of 20 billion, government purchases of 1,000 billion, business investment...
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Q.1,2
![If a country's real GDP per capita declines, this means that which of the following may have occurred?
1. Real GDP increased but the population declined.
II. Real GDP decreased but the population did not change.
III. The population increased and real GDP did not change.
I and II only
ⒸI, II, and III
II and III only
O II only
OI and III only
Neither I, II, nor III
III only
O I only](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F02f429f9-8aa5-4bd4-8533-b98caa9cdf94%2F85bb31a7-2ad6-47ca-a8be-329e4c92faab%2Fxdjft9c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If a country's real GDP per capita declines, this means that which of the following may have occurred?
1. Real GDP increased but the population declined.
II. Real GDP decreased but the population did not change.
III. The population increased and real GDP did not change.
I and II only
ⒸI, II, and III
II and III only
O II only
OI and III only
Neither I, II, nor III
III only
O I only
![Product
Price
Quantity
Shovels
$10
50
Books
$20
100
Tomatoes
$1
1000
Pizzas
$15
200
Suppose a small economy produces only the four goods listed in the the table above. If all of the country's tomatoes are used only in the production of pizzas, what is the value of GDP in this economy?
$5,500
Ⓒ$6.500
$5,000
$6,000
$4,500
$4,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F02f429f9-8aa5-4bd4-8533-b98caa9cdf94%2F85bb31a7-2ad6-47ca-a8be-329e4c92faab%2Fotnji5b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Product
Price
Quantity
Shovels
$10
50
Books
$20
100
Tomatoes
$1
1000
Pizzas
$15
200
Suppose a small economy produces only the four goods listed in the the table above. If all of the country's tomatoes are used only in the production of pizzas, what is the value of GDP in this economy?
$5,500
Ⓒ$6.500
$5,000
$6,000
$4,500
$4,000
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![Product
Price
Quantity
Shovels
$10
50
Books
$20
100
Tomatoes
$1
1000
Pizzas
$15
200
Suppose a small economy produces only the four goods listed in the the table above. If all of the country's tomatoes are used only in the production of pizzas, what is the value of GDP in this economy?
$5,500
Ⓒ$6.500
$5,000
$6,000
$4,500
$4,000](https://content.bartleby.com/qna-images/question/02f429f9-8aa5-4bd4-8533-b98caa9cdf94/9223b54a-0364-491e-a880-aa39495a34cc/vfn9rvt_thumbnail.jpeg)
Transcribed Image Text:Product
Price
Quantity
Shovels
$10
50
Books
$20
100
Tomatoes
$1
1000
Pizzas
$15
200
Suppose a small economy produces only the four goods listed in the the table above. If all of the country's tomatoes are used only in the production of pizzas, what is the value of GDP in this economy?
$5,500
Ⓒ$6.500
$5,000
$6,000
$4,500
$4,000
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