If Real GDP Per Capita in a Country Were $14,000

question 232

Multiple Choice

If real GDP per capita in a country were $14,000 in year 1 and $14,280 in year 2,then the economic growth rate for this country from year 1 to year 2 was:

• A) 1%.
• B) 2%.
• C) 3%.
• D) 4%.

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Definitions:

Significant Points

Key or important aspects, facts, or features that are noteworthy.

Higher Price

The strategy of setting the cost of a product or service above the average market price to signal higher quality or to cover higher production costs.

Market Segments

Market segments consist of individuals or entities grouped together based on shared traits or needs, which lead them to desire comparable products and services, reflecting similar preferences, attributes, or actions.

Broad Array

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