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It is estimated that in 2007, Mexico had a population of 110 million and Brazil had a population of 190 million. At the same time,
It is estimated that in 2007, Mexico had a population of 110 million and Brazil had a population of 190 million. At the same time, Mexico's GDP was $1 trillion while Brazil's was $1.31 trillion. These data show that
- A) Brazil had a healthier economy than did Mexico.
- B) Mexico's GDP per person was lower than was Brazil's GDP per person in 2007.
- C) Mexico's GDP per person was $9090 in 2007.
- D) Brazil's GDP per person was $5300 in 2007.
For country X, its nominal GDP in 2019 was $356 billion, and its real GDP for the same year was only $320 billion. The difference between the two figures is the result of
- statistical discrepancy
- an error in the calculation of GDP
- the increase in production in 2019
- the increase in prices between the base year and the current year
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