In 2014,real GDP in Latania Was $750 Billion and the Population

question 142

Multiple Choice

In 2014,real GDP in Latania was $750 billion and the population was 3 million.In 2015,real GDP was $990 billion and the population was 3.3 million.What was the approximate growth rate of real GDP per person?

• A) 11 percent
• B) 14 percent
• C) 17 percent
• D) 20 percent

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Definitions:

Coefficient Of Determination

A measure used in statistical analysis that assesses the goodness of fit of a model, representing the proportion of variance in the dependent variable that is predictable from the independent variable(s).

Regression Analysis

A statistical method for modeling the relationship between a dependent variable and one or more independent variables.

Independent Variables

Variables in an experiment or model that are manipulated or controlled by the researcher to investigate their effect on dependent variables.

Dependent Variables

Variables in an experiment or model that are expected to change in response to changes in independent variables.