Last Year, Real GDP Per Person in Midlothian Was $8000

question 127

Multiple Choice

Last year, real GDP per person in Midlothian was $8000. The year before, it was $6000. What was the growth rate of real GDP per person?

• A) 10 percent
• B) 16.2 percent
• C) 25 percent
• D) 33.33 percent

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Definitions:

Automobile Factory

A manufacturing facility dedicated to the production of automobiles, encompassing various processes like assembly, painting, and quality control.

Disc Brakes

A type of brake that uses the calipers to squeeze pairs of pads against a disc or "rotor" to create friction that slows the rotation of a shaft, such as in a wheel and axle assembly.

Null Hypothesis

A default hypothesis that suggests no significant effect or difference; used as a starting point in hypothesis testing.

Service Time

The duration in which a service is provided to a customer, from the beginning of the service delivery to its conclusion.