Suppose That the Real Gross Domestic Product (GDP) Growth Rate

question 163

Multiple Choice

Suppose that the real Gross Domestic Product (GDP) growth rate for a country was 5 percent and the population growth rate was 3 percent. What would the per capital real Gross Domestic Product (GDP) growth rate be for this country?

• A) -8 percent
• B) -2 percent
• C) 2 percent
• D) 8 percent

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period, often measured as the percent rate of increase in real GDP.

OECD

An international organization (Organisation for Economic Co-operation and Development) that promotes policies to improve the economic and social well-being of people around the world.

Economic Growth

An increase in the economic output and prosperity of a country, often measured by the rise in its Gross Domestic Product (GDP).