In a Given Year, Suppose the Nominal GDP Growth Rate

question 13

Multiple Choice

In a given year, suppose the nominal GDP growth rate is 5 percent, the inflation rate is 1.2 percent, and the population growth rate is 3.8 percent. What is the real GDP per capita growth rate?

• A) 3.8 percent
• B) 5.0 percent
• C) 1.2 percent
• D) 0.0 percent

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Definitions:

Buyer

An individual or organization that purchases goods or services for personal use or for incorporation into products or services they provide.

Buying Center

A collection of individuals within an organization who participate in the decision-making process related to purchasing products or services.

Influencers

Individuals who have the power to affect the purchasing decisions of others, often through their authority, knowledge, or relationship with their audience.

Formal Authority

The power given to an individual or an entity based on their role or position within an organization, allowing them to make decisions and enforce rules.