Suppose That Over the Last Twenty-Five Years a Country's Nominal

question 16

Multiple Choice

Suppose that over the last twenty-five years a country's nominal GDP grew to three times its former size.In the meantime,population grew by 40 percent and prices rose by 100 percent.What happened to real GDP per person?

• A)It more than doubled.
• B)It increased,but it less than doubled.
• C)It was unchanged.
• D)It decreased.

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Definitions:

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