Suppose hat 25 yean ago a country had nomunai GDP of 1000, a GDP deflator of 200, and a population of 100 Today, that country has a nominal GDP of 3000, a deflator of 400, and apopulation of 150 What happeted to the real GDP per person?O roe, but less than doubledOa did net changeO ct more than doubled

Suppose that 25 yean ago a country had nominai GDP of 1000, a GDP deflator of 200, an opulation of 150 What happened to the real GDP per person? Oh roe, but less than doubled h did not change Oct more than doubled

Suppose that 25 yean ago a country had nominai GDP of 1000, a GDP deflator of 200, an opulation of 150 What happened to the real GDP per person? Oh roe, but less than doubled h did not change Oct more than doubled

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

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Question

Suppose hat 25 yean ago a country had nomunai GDP of 1000, a GDP deflator of 200, and a population of 100 Today, that country has a nominal GDP of 3000, a deflator of 400, and a
population of 150 What happeted to the real GDP per person?
O roe, but less than doubled
Oa did net change
O ct more than doubled

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120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.
Per capita GDP measures?
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Suppose that Moby went from a stay-at-home father to a paid worker. He now earns $300 a week but pays $150 a week for daycare and $100 a week for a housekeeper. Moby is O A. better off by $550 and GDP increases by $150. O B. better off by $150 and GDP increases by $550. O C. better off by $50 and GDP increases by $600. O D. better off by $50 and GDP increases by $550.
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The GDP deflator is calculated using O A. Real GDP - Nominal GDP x 100 Real GOP Nominal ODP OB. Nominal GDP OC. Nominal GDP x 100 Real GDP O D. Constant Doilar GDP Current Dollar GDP X 100 Suppose for the year 2013 the economy of Uplandia has a nominal GDP of $5,200 billion and a real GDP of $4,160 billion. For 2013, this economy's GDP deflator is (Round your response to one decimal place ) Now suppose the GDP deflator in 2012 was 113.0. Uplandia's year-over-year inflation rate is percent. (Round your response to one decimal place) Click to select your answer(s).