Refer to Table 9

question 62

Multiple Choice

$$\begin{array}{l}\begin{array} { | l | l | l | } \hline \text { Year } & \begin{array} { l } \text { Real GDP (in } \\\text { Billions of 2005 } \\\text { Dollars) }\end{array} & \begin{array} { l } \text { Population (in } \\\text { Millions of } \\\text { People) }\end{array} \\\hline 1999 & \$ 10,780 & 279.3 \\\hline 2000 & \$ 11,226 & 282.4 \\\hline\end{array}\\\text { Table } 9.1\end{array}$$ Refer to Table 9.1.What was real GDP per capita in 2000?

• A) $40,193.
• B) $38,173.
• C) $38,596.
• D) $39,752.

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Definitions:

Keynes

A reference to John Maynard Keynes, a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

Classical Economists

Economists, primarily from the 18th and 19th centuries, who believed in the importance of free markets, competition, and the self-regulating nature of economies.

Investment Demand

The total demand for goods and services within an economy that represents an investment by businesses or individuals.

Say's Law

An economic theory proposing that supply creates its own demand, implying that production drives economic growth.