Question : 22) The population in the current year 31.5 million and : 1224096

 

 

22) The population in the current year is 31.5 million and the real GDP is $814 million. The previous year’s statistics were a population of 31 million and a real GDP of $800 million. The change in the standard of living, measured by growth in real GDP per person, is

A) 1.6 percent.

B) 7.75 percent.

C) 0.13 percent.

D) 6 percent.

E) 0 percent.

 

23) Assume the population growth rate is 2 percent and the real GDP growth rate is 5 percent. The change in standard of living, as measured by the growth rate in real GDP per person, is

A) 7 percent.

B) 2.5 percent.

C) 5 percent.

D) 3 percent.

E) -3 percent.

 

 

24) Real GDP in the country of Oz is growing at 5 percent and its population is growing at 2 percent. In the country of Lilliput, real GDP is growing at 4 percent and its population is growing at 0.5 percent. Thus,

A) real GDP per person in Oz is growing at a faster rate than in Lilliput.

B) real GDP per person in Lilliput is growing at a faster rate than in Oz.

C) real GDP per person in Lilliput is growing at the same rate as in Oz.

D) real GDP per person in Lilliput is growing at a rate that is not comparable to that in Oz.

E) We need more information to determine if real GDP per person in Lilliput is growing faster or slower than real GDP per person in Oz.

 

 

25) If the U.S. population grew at a 0.9 percent and real GDP grew at a 4.4 percent during the same period, what was the growth rate of real GDP per person?

A) 3.5 percent

B) 5.3 percent

C) 4.0 percent

D) -3.5 percent

E) 4.4 percent

 

26) If real GDP grows at a rate of 6 percent and population grows at a rate of 2 percent, then real GDP per person grows at a rate of

A) 4 percent.

B) 2 percent.

C) 0.5 percent.

D) -3 percent.

E) 8 percent.

 

 

27) Iceland’s real GDP grows at a rate of 2.6 percent and population grows at a rate of 0.8 percent. Iceland’s real GDP per person grows at a rate of

A) 1.8 percent.

B) 2.6 percent.

C) 3.4 percent.

D) 3.0 percent.

E) 3.2 percent.

 

 

28) If an economy’s growth rate of real GDP is 3 percent per year and the growth rate of the population is 2.5 percent per year, the growth rate of real GDP per person is

A) 3 + 2.5 = 5.5 percent per year.

B) [(3 – 2.5) ÷ 2.5] × 100 = 20 percent per year.

C) [(2.5 – 3) ÷ 3] × 100 = 16.6 percent per year.

D) 3 – 2.5 = 0.5 percent per year.

E) 2.5 – 3 = -0.5 percent per year.

 

29) In 2009, U.S. real GDP decreased by 3 percent and the population grew by 1 percent. Thus, real GDP per person

A) increased 2 percent.

B) decreased 2 percent.

C) increased 4 percent.

D) decreased 4 percent.

E) decreased 3 percent.

 

 

30) If a country experiences a real GDP growth rate of 1 percent and population growth of 2 percent, then the growth rate of real GDP per person is

A) 3 percent.

B) 2 percent.

C) 1 percent.

D) -1 percent.

E) 0 percent.

 

 

31) During 2008, Swaziland had a real GDP growth rate of 1.8 percent and a real GDP growth rate per person of -1.3 percent. These rates indicate that in Swaziland

A) there was an error when calculating the growth rates because the growth rate of real GDP per person cannot be negative.

B) the population growth rate was negative.

C) the population grew at a faster rate than real GDP.

D) poverty levels are declining.

E) real GDP grew more rapidly than did the population.

 

32) In India last year, the growth rate of real GDP was 3.5 percent and the population grew from 1,000 million people to 1,100 million. Real GDP per person

A) increased by 13.5 percent.

B) decreased by 6.5 percent.

C) increased by 6.5 percent.

D) decreased by 13.5 percent.

E) increased by 3.5 percent.

 

 

33) Belgium’s real GDP per person is $33,000 and Austria’s is $34,700. The population growth rate in Belgium is 0.13 percent and the growth rate of real GDP is 3.0 percent. The population growth rate in Austria is 0.08 percent and the growth rate of real GDP is 3.3 percent. If these growth rates continue, how many years will it take for Belgium’s real GDP per person to equal Austria’s real GDP per person?

A) Belgium’s standard of living will never equal Austria’s.

B) just over 23 years

C) just over 24 years

D) just over 21 years

E) over 230 years

 

 

34) If Country A’s real GDP is growing at 6 percent per year and Country B’s real GDP is growing at 6 percent per year, then the standard of living is

A) growing more rapidly in Country A.

B) higher in Country B.

C) changing at the same rate in Country A and Country B.

D) growing more slowly in Country A.

E) changing at the same rate in Country A and Country B only if the rate of population growth is the same in both countries.

 

35) If Country A’s real GDP per person is growing at 6 percent and Country B’s real GDP per person is growing at 3 percent, then

A) the standard of living is higher in Country A.

B) the standard of living is higher in Country B.

C) the standard of living is growing more rapidly in Country A.

D) We cannot say whose standard of living is growing more rapidly without knowing the population growth rate.

E) We cannot say whose standard of living is growing more rapidly without knowing the growth rate of real GDP.