If You Are Told That in a Given Year the Real

question 114

Multiple Choice

If you are told that in a given year the real growth rate is 7% with inflation and population growth rates of 2% and 1.2% respectively, then nominal growth rate of GDP per capita is:

• A) 3.8%.
• B) 5.0 %.
• C) 5.8%.
• D) 7.0 %.

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Definitions:

Research and Development

The research efforts a company undertakes to enhance current products and processes or to facilitate the creation of new products and processes.

Marketable Value

The potential worth of a good or service that can be sold or traded in the market based on demand.

Efficiency-Enhancing Innovation

Innovations that significantly improve the productivity and performance of processes, systems, or technologies, often leading to cost reductions and improved outcomes.

Workflow Changes

Adjustments or transformations in the sequence of activities or processes within an organization aimed at improving efficiency, productivity, or operational effectiveness.