Last Year Real GDP in the Imaginary Nation of Populia

question 49

Multiple Choice

Last year real GDP in the imaginary nation of Populia was 907.5 billion and the population was 3.3 million.The year before real GDP was 750 billion and the population was 3 million.What was the growth rate of real GDP per person during the year?

• A)10 percent
• B)14 percent
• C)17 percent
• D)21 percent

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Definitions:

Production Budget

A financial plan that estimates the number of units that need to be manufactured to meet sales goals and inventory requirements.

Cash Budget

An estimate of cash inflows and outflows for a business or project over a specific period of time, used for managing liquidity and ensuring financial stability.

Cash Receipts

The total amount of money received by a company during a specific period, including all sources of income.

Direct Labor-Hours

The aggregate amount of time spent by staff members directly participating in the creation process.