Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 17, Problem 1QP
To determine
Comparing per capita real
Expert Solution & Answer
Explanation of Solution
The per capita real economic growth is accounted by dividing the real
Thus, the per capita real economic growth is more efficient measure than absolute real economic growth in terms of measuring the standard of living.
Economics Concept Introduction
Per capita real economic growth: Per capita real economic growth is accounted by dividing the real gross domestic product (GDP) with total population.
Absolute real per capita: Absolute real per capita is a
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