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:

Pseudoscience

Systems of thought or practice that claim to be scientific or are presented as science but lack empirical evidence and adherence to scientific methods.

Scientific Terms

Vocabulary or lexicon that is specific to the disciplines of science, used to describe principles, theories, and concepts.

Scientific Enquiry

The process of using empirical evidence and systematic investigation to understand phenomena.

Pseudoscience

A collection of beliefs or practices mistakenly regarded as being based on scientific method.