Suppose That Over the Last Twenty-Five Years a Country's Nominal

question 16

Multiple Choice

Suppose that over the last twenty-five years a country's nominal GDP grew to three times its former size.In the meantime,population grew by 40 percent and prices rose by 100 percent.What happened to 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:

Group Efficacy

The collective belief of a group in its ability to achieve objectives and successfully accomplish tasks.

Competent

Having the necessary ability, knowledge, or skill to do something successfully or efficiently.

Open-book Management

A management approach where businesses share financial and other performance data with all employees to involve them more in the decision-making process.

Company's Business Goals

Specific objectives that a company aims to achieve, ranging from financial performance, market expansion, to innovation and customer satisfaction.