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:

HR Department

The division of an organization focused on recruitment, management, and direction of people who work in it, also known as Human Resources.

Business Acumen

The keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome.

Sustainability

Refers to the practice of maintaining processes or systems in ways that do not deplete natural or human resources, ensuring long-term ecological balance.

Raw Materials

Basic materials that are used in the production process of manufacturing goods, typically unprocessed or minimally processed states.