Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

  1. A) Brazil had a healthier economy than did Mexico.
  2. B) Mexico's GDP per person was lower than was Brazil's GDP per person in 2007.
  3. C) Mexico's GDP per person was $9090 in 2007.
  4. 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

  1. statistical discrepancy
  2. an error in the calculation of GDP
  3. the increase in production in 2019
  4. the increase in prices between the base year and the current year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

OPEC Twenty Years And Beyond

Authors: Ragaei El Mallakh

1st Edition

1317244737, 9781317244738

More Books

Students also viewed these Economics questions