If Real GDP Per Capita Is Decreasing,what Can We Conclude

question 28

Multiple Choice

If real GDP per capita is decreasing,what can we conclude about real output?

• A)It is growing more rapidly than the population.
• B)It is growing less rapidly than the population.
• C)It is growing more rapidly than are prices.
• D)It is growing at the same rate as the population.

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Definitions:

Related Goods

Products or services that are either complements or substitutes to one another, affecting each other's demand and supply.

Cost of Resources

The total expense incurred to acquire resources needed for production, including raw materials, labor, and capital.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a specified period.

Demand

The volume of goods or services consumers are prepared and able to buy across a range of prices within a certain timeframe.