Question
Which of the following answers implies that real GDP per capita increases by an average of 4 percent per year (select all that apply)? (a)
Which of the following answers implies that real GDP per capita increases by an average of 4 percent per year (select all that apply)?
(a) Population increases by an average of 2 percent per year, total nominal GDP increases by an average of 6 percent per year, and the price level increases by 1 percent per year.
(b) Population increases by an average of 1 percent per year and total real GDP increases by an average of 4 percent per year.
(c) Population does not increase, nominal GDP per capita increases by an average of 3 percent per year, and the price level declines by 1 percent per year.
(d) Population increases by an average of 1 percent per year, total nominal GDP increases by an average of 6 percent per year, and the price level increase by an average of 1 percent per year.
(e) Population increases by an average of 1 percent per year and total real GDP increases by an average of 5 percent per year.
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Economics of Money, Banking and Financial Markets
Authors: Frederic S. Mishkin
9th Edition
978-0321607751, 9780321599797, 321607759, 0321599799, 978-0321598905
