c07sendout - 1. If a nation's real GDP increases from 100...

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1. If a nation's real GDP increases from 100 billion to 106 billion and its population jumps from 200 million to 212 million, it real GDP per capita will: A) remain constant. B) fall by 6 percent. C) rise by 6 percent. D) fall by 12 percent. 2. For a nation's real GDP per capita to rise during a year: A) consumption spending must increase. B) real GDP must increase more rapidly than population. C) population must increase more rapidly than real GDP. D) investment spending must increase. 3. Given the annual rate of economic growth, the "rule of 70" allows one to: A) determine the accompanying rate of inflation. B) calculate the size of the GDP gap. C) calculate the number of years required for real GDP to double. D) determine the growth rate of per capita GDP. 4. At an annual growth rate of 4 percent, real GDP will double in about: A) 17 ½ years. B) 20 years. C) 13 ½ years. D) 15 years. 5. Recurring upswings and downswings in an economy's real GDP over time are called: A) recessions. B) business cycles. C) output yo-yos. D) total product oscillations. 6.
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This note was uploaded on 07/25/2009 for the course ECO 2013 taught by Professor Rudolphdaniels during the Summer '09 term at Florida A&M.

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c07sendout - 1. If a nation's real GDP increases from 100...

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