If GDP Per Capita Rises by 2% Between 2015 and 2016

question 257

Multiple Choice

If GDP per capita rises by 2% between 2015 and 2016, which of the following is necessarily true?

• A)Real GDP has risen by more than 2%.
• B)Real GDP has risen by 2%.
• C)The population has decreased.
• D)The population has increased, but by less than 2%.
• E)None of the above is necessarily true.

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Definitions:

Sole Proprietorship

An unincorporated firm owned and operated by one person.

Money Income

It refers to the total amount of monetary earnings received by an individual or household, including wages, salaries, and other forms of financial income.

Revenues

The sum of money a business acquires from selling goods or offering services over a certain time frame.

Households

Economic units that represent all individuals living in a single dwelling, sharing income and expenses; primary consumers in the economy.