Suppose Real GDPs in Hauck and Meran Are Identical at $10

question 86

Multiple Choice

Suppose real GDPs in Hauck and Meran are identical at $10 trillion in 2010. Suppose Hauck's economic growth rate is 2% and Meran's is 4% and the rates remain constant over time. Calculate the percentage difference in their levels of potential output in 2046.

• A) There will be no difference in their levels of potential output.
• B) Meran's potential output will be 50% higher than that of Hauck's.
• C) Hauck's potential output will be 100% higher than that of Meran's.
• D) Meran's potential output will be 100% higher than that of Hauck's.

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Definitions:

Socio-Economic View

A perspective that considers the interplay between social and economic factors and how they influence each other.

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A business model that helps a company be socially accountable—to itself, its stakeholders, and the public. It involves operating in ways that enhance society and the environment.

Broader Social Concerns

Issues or challenges that impact society at large, beyond individual or private interests.

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The extent to which a stakeholder’s concerns need immediate attention.