Real GDP Per Person in Both Alpha and Omega Is

question 69

Multiple Choice

Real GDP per person in both Alpha and Omega is equal to $2,000. Over the next 100 years, real GDP per person grows at a 1.5 percent annual rate in Alpha and at a 2.5 percent annual rate in Omega. After 100 years, real GDP per person in Alpha is ________ smaller than real GDP per person in Omega.

• A)$2,000
• B)$5,410
• C)$8,864
• D)$14,763

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Definitions:

Sample Size

The number of observations or data points collected in a sample from a population for analysis.

Continuous Random

Pertains to a random variable that can take an infinite number of possible values in a continuous range.

Value In Interval

Refers to a number or a measurement lying within a specific range defined by a lower and upper boundary.

Concept

A mental grouping of similar objects, events, ideas, or people.