If Real GDP Per Person Were Equal to $1,000 in 1900

question 63

Multiple Choice

If real GDP per person were equal to $1,000 in 1900 and grew at a one percent annual rate, what would be the value of real GDP per person 100 years later?

• A)$1,100
• B)$2,705
• C)$11,000
• D)$13,780

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Definitions:

Construct

An intellectual hypothesis that we devise and use to interpret or explain life events. Constructs are bipolar, or dichotomous, such as tall versus short or honest versus dishonest.

Reality

The state or quality of having existence or substance, often distinguished from illusions or fantasies.

Theory

A system of ideas intended to explain something, based on general principles independent of the thing to be explained.

Psychological Theories

Theories in psychology that are aimed at understanding how human thoughts, feelings, and behaviors are developed and how they operate within various contexts.