Suppose That Twenty-Five Years Ago a Country Had Nominal GDP

question 21

Multiple Choice

Suppose that twenty-five years ago a country had nominal GDP of $1,000,a GDP deflator of 200,and a population of 100.Today it has nominal GDP of $3,000,a GDP deflator of 400,and population of 150.What happened to the real GDP per person?

• A)It more than doubled.
• B)It increased,but it less than doubled.
• C)It was unchanged.
• D)It decreased.

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Definitions:

Regional Sales Team

A regional sales team is a group of sales professionals responsible for managing and growing sales within a specific geographic area or region.

Cash Discount

A reduction in the invoice price offered by sellers to buyers as an incentive for early payment.

Stated Period

A specific time frame that has been mentioned or defined.

Pays Bills

The responsibility of managing and settling financial liabilities such as invoices or debts, often referring to the operational costs of running a business.