Last Year the Imaginary Nation of Panglossia Had Real GDP

question 9

Multiple Choice

Last year the imaginary nation of Panglossia had real GDP of 400 billion.This year it had real GDP of 472.5 billion.Which of the following changes in population is consistent with a 5 percent growth rate of real GDP per person over the last year?

• A)The population decreased from 75 million to 72 million.
• B)The population decreased from 60 million to 50 million.
• C)The population increased from 70 million to 80 million.
• D)The population increased from 80 million to 90 million.

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Definitions:

Breach Contract

A failure to perform any term of a contract, written or oral, without a legitimate legal excuse, which allows the other party to seek compensation.

Reasonable Care

A legal standard requiring individuals to act with the caution and attentiveness that a prudent person would under similar circumstances.

Delegating Authority

The process by which a person or body authorizes another person or body to perform certain tasks or make decisions on its behalf.

Interest

The charge for borrowing money, typically expressed as an annual percentage rate, or the profit earned on money invested.