D) employment E) unemployment. 27) The growth rate of real GDP per person equals
ID: 1122215 • Letter: D
Question
D) employment E) unemployment. 27) The growth rate of real GDP per person equals the A) population growth rate plus the growth rate of real GDP B) change in the economic growh rate divided by the change in the populaion growth rate the economic D)growth rate of real GDP minus the growth rate of the population growth rate per person divided by the change in the population growh rate. e-) population growth rate plus the growh rate of real GOP then divided by the initial level of real GDP 28) The population in the current year is 275 milion and the real GOP is S9 trilion. The previous year's statistics were a population of 270 million and a real GDP of $8.6 trillion. The change in the standard of living. measureo by growth in real GDP per person, is A) 5.7 percent B) 4.7 percent C) 28 percent D) 1.9 percent. E) 0 percent 29 The rule of , can be used to calculate the number of years that it takes for the level of a variable to A) 20, double B) 70; triple -C) 70, double D) 20, triple E) thumb; double 30) The Rule of 70 states that the level of a variable will double in A) 70 years B) the number of years equal to the variable's annual rate of growth divided by 70 - C) the number of years equal to 70 divided by the variable's annual growth rate. D) the number of years equal to the variable's annual growth rate minus 70. E) the number of years equal to 70 multiplied by the variable's annual growth rate expressed as a decimal. 31) The aggregate supply curve illustrates that the -A) higher the price level, the greater the quantity of real GDP supplied B) higher the price level, the smaller the quanity of real GDP supplied. C) aggregate demand curve is not needed to determine the aggregate price level. D) price level does not affect the quantity of real GDP supplied E) amount of potential GOP increases when the price level rises. 32) If the price level increases from 110.0 to 115.0, the quantity of A) real GOP supplied will increase. B) real GDP supplied will decrease. C) potential GDP will decrease D) real GDP demanded ill increase. E) potential GDP will increase. 33) The above table gives aggregate demand and aggregate supply schedules. Equilibium real GDP s A) $10 trillion B) $9 trillion.Explanation / Answer
27> D
Real GDP per capita is Real GDP divided by Population. So, the growth rate must be growth rate of Real GDP minus population growth.
28> C
It changed from $31852 to $32727
29>c
The rule of 70 is a way to estimate the number of years it takes for a certain variable to double. To estimate the number of years for a variable to double, take the number 70 and divide it by the growth rate of the variable.
30>C
The rule of 70 is a way to estimate the number of years it takes for a certain variable to double. To estimate the number of years for a variable to double, take the number 70 and divide it by the growth rate of the
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