Holding Everything Else Unchanged, If a Nation's Output Grows at Approximately

question 133

Multiple Choice

Holding everything else unchanged, if a nation's output grows at approximately 2.4% per year and its population doubles in 45 years, calculate the approximate rate of change in per capita real GDP.

• A) 0.8% per year
• B) 1.6% per year
• C) 2.4% per year
• D) 4% per year

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Definitions:

Woody Tissue

Plant tissue composed mainly of xylem, providing structural support and conduction of water and nutrients; commonly found in trees and shrubs.

Basal Angiosperm

refers to the earliest diverging groups of flowering plants, sharing some ancestral characteristics distinct from most modern flowers.

Star Anise

An aromatic spice that comes from the fruit of the Illicium verum tree, characterized by its star shape and licorice-like flavor.

Economically Important

Referring to plants, animals, or minerals that have considerable value or significance to human economies.