Which Statement Is Most Accurate About the Real GDP Per

question 20

Multiple Choice

Which statement is most accurate about the real GDP per capita of different nations between 1980 and 2006?

• A) The real GDP per capita of the US ranks in the middle of the other major industrialized nations.
• B) The US had the highest real per capita GDP at the beginning of the period, but by the end of the period many other industrialized had caught up to the US.
• C) The US had the highest real per capita GDP throughout the period and on average, the other major industrialized nations did not significantly close the gap.
• D) At the beginning of the period, the US had a real GDP per capita equal to the average of the major industrialized nations, but by 2006 the US had moved into first place.

---

Definitions:

Physical Facilities

The buildings, spaces, and related equipment owned or leased by an organization to support its operations.

Capital

Financial resources or assets owned by an individual or organization, used for investment, production, or other economic purposes.

Tax Deduction

An expense that can be subtracted from an individual's or organization's taxable income, effectively reducing the amount of taxes owed.

Private Property

Most basic freedom under the private enterprise system; the right to own, use, buy, sell, and bequeath land, buildings, machinery, equipment, patents, individual possessions, and various intangible kinds of property.