If a Nation's Real GDP Grows at Approximately 3

question 48

Multiple Choice

If a nation's real GDP grows at approximately 3.4% per year and its population doubles in 120 years, calculate the approximate rate of change in per capita real GDP.

• A) 0.6% per year.
• B) 2.8% per year.
• C) 3.4% per year.
• D) 4% per year.

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Definitions:

Consistency

The quality of always acting or behaving in the same way, or the uniformity of a substance's texture.

Civil War

An armed conflict within a country, fought between factions or regions seeking control or autonomy.

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Warships from the 19th century, heavily armored with iron or steel plates, notable in naval warfare history.

Shallow Water

An area of water that is not deep, often near the shore or in a body of water where the depth is minimal.