It Is Preferable to Use Real GDP Per Capita, as Opposed

question 176

True/False

It is preferable to use real GDP per capita, as opposed to GDP per capita or real GDP, as an indicator as to how an economy grows over time.

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Definitions:

Supply and Demand Analysis

An economic model that determines the price of a product in a market by evaluating the balance between the quantity of a good or service available and the desire (or demand) for that good or service.

Equilibrium Price

is the price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Exports and Imports

The totality of goods and services sent out to other countries (exports) and brought into a country (imports) from abroad.

NAFTA

The North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States to reduce trade barriers and promote economic cooperation.