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2020_300ps7a

# 2020_300ps7a - Problem set 4 covering Chpt 7 Student 1 Real...

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Problem set 4 covering Chpt 7 Student: ___________________________________________________________________________ 1. Real GDP per capita: A. cannot grow more rapidly than real GDP. B. cannot grow more slowly than real GDP. C. necessarily grows more rapidly than real GDP. D. can grow either more slowly or more rapidly than real GDP. 2. Which of the following best measures improvements in the standard of living of a nation? A. growth of nominal GDP B. growth of real GDP C. growth of real GDP per capita D. growth of national income 3. 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. 4. Refer to the above table. Between years 1 and 2, real GDP grew by __________ percent in Alta: A. 3 percent. B. 4 percent. C. 5 percent. D. 10 percent.

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5. Refer to the above table. Between years 1 and 2, real GDP per capita grew by __________ percent in Alta: A. 3 B. 4 C. 5 D. 10 6. 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. 7. The immediate determinant of the volume of output and employment is the: A. composition of consumer spending. B. ratio of public goods to private goods production. C. level of total spending.
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2020_300ps7a - Problem set 4 covering Chpt 7 Student 1 Real...

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