The economy of a developing country grew from a real GDP of $100 million in 1990 to a real GDP of $ 120 million in 1991. The countrys population grew from 100 million individuals in 1990 to 130 million individuals in 1991. Based on this information, the average individual in this country in 1991, compared to 1990, was probably (careful: if per capita GDP increases, the average individual is usually better off. ): a. Better off economically b. Equally well off, but only if the entire real GDP was spent on food in both years. c. Worse off economically.
The economy of a developing country grew from a real GDP of $100 million in 1990 to a real GDP of $ 120 million in 1991. The countrys population grew from 100 million individuals in 1990 to 130 million individuals in 1991. Based on this information, the average individual in this country in 1991, compared to 1990, was probably (careful: if per capita GDP increases, the average individual is usually better off. ): a. Better off economically b. Equally well off, but only if the entire real GDP was spent on food in both years. c. Worse off economically.
Chapter19: Economic Development
Section: Chapter Questions
Problem 4.6P
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Transcribed Image Text:The economy of a developing country grew from a
real GDP of $100 million in 1990 to a real GDP of $
120 million in 1991. The countrys population grew
from 100 million individuals in 1990 to 130 million
individuals in 1991. Based on this information, the
average individual in this country in 1991, compared
to 1990, was probably (careful: if per capita GDP
increases, the average individual is usually better off.
): a. Better off economically b. Equally well off, but
only if the entire real GDP was spent on food in both
years. c. Worse off economically.
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