If real GDP per person doubles in 20 years, then the annual growth rate of real GDP per person is ______ percent a year. A. 14.0. B. 28.5. C. 3.5. D. 14.3. | Homework.Study.com (2024)

Get access to this video and our entire Q&A library

• Over the past 100 years, U.S. real GDP per person has doubled about every 35 years. If it continues to double every 35 years, then in 100 years U.S. real GDP per person will be about? A. 4 times highe
• If real GDP grows at 7 percent per year, then real GDP will double in approximately ___ years. a. 70 b. 14 c. 10 d. 7
• If a country's real GDP grows at 10% per year, it's real GDP will double about every a. 5 years b. 7 years c. 10 years d. 14 years
• A country aims to double real GDP per capita in the next 10 years. If the rate of population growth in the country is 1% per year then this means that real GDP must grow at what per year? 11% 5% 8% 3
• Over the past century, real GDP per person in the US has grown about percent per year, which means it doubles about every year. A. 2, 14 B. 2, 35 C. 5, 14 D. 5, 35
• If the growth rate of real GDP rises from 3% to 4% per year, then the number of years required to double real GDP will decrease from {Blank} years to {Blank} years a. 23.3; 20.6 b. 11.2; 10.8 c. 23.3; 17.5 d. 28.0; 21.0
• A country aims to double real GDP per capita in the next 10 years. If the rate of population growth in the country is 1% per year, then this means that real GDP must grow at percent per year.
• Over the past century, real GDP per person in the United States has grown about percent per year, which means it doubles about every years. a. 2, 14 b. 5, 14 c. 2, 35 d. 5, 35
• Over the past century, real GDP per person in the United States has grown about _ percent per year, which means it doubles about every _ years. a. 2, 14 b. 2, 35 c. 5, 14 d. 5, 35
• In an economy, the GDP deflator is found to be 110 for the current year. If the GDP has registered an annual growth rate of 15% in the same year, then what will be the growths of the real GDP?
• Suppose real GDP per capita in Canada is $25,000 and its annual growth rate is 7%. Real GDP per capita for Canada will double in: a. 5 years b. 20 years c. 7 years d. an indeterminate amount of years with the information given e. 10 years
• Calculate the approximate number of years it will take for real GDP per person to double if an economy maintains an economic growth rate of 12% a year and a population growth rate of 10% a year.
• If the growth rate of real GDP rises from 3% to 4% per year, then the number of years required to double real GDP will decrease from _____.
• Real GDP per capita in Yland was $1,000 in 1900. Yland's average annual growth rate was 1% from 1900 until 1970 and then the annual growth rate increased to 2% from 1970 to 2005. What was real GDP per
• a. Suppose an economy's real GDP is $46,000 in year 1 and $49,200 in year 2. What is the growth rate of its real GDP? b. Assume that the population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?
• A) Suppose an economy's real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? B) Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?
• Suppose real GDP was 120 in year 1 and 156 in year 2. The growth rate of real GDP is [{Blank}]%.
• If real GDP per capita grows at a rate of 10% a year, then we can expect the standard of living to double in: A. 7 years. B. 9 years. C. 8 years. D. 10 years. E. 5 years.
• Last year real GDP in Greatland was 651 billion and the population was 2.4 million. The year before, real GDP was 460 billion and the population was 1.9 million. What was the growth rate of real GDP per person during the year? a. 12 percent. b. 10 percent
• Approximately how long will it take Ethiopia to double its real GDP per person of $100 if its growth rate of real GDP per person is 0.9 percent a. 63 years b. 77.7 years c. 70 years d.109 years e. 100 years
• Year GDP Real GDP 1997 $14,452 $15,626 1998 $14,713 $15,605 1999 $14,449 $15,209 2000 $14,992 $15,599 2001 $15,543 $15,841 2002 $16,197 $16,197 1. Why is real GDP more than GDP in 2001 but the same as GDP in 2002? 2. Based on this data, when was the U.S
• Using the Rule Of 70, if the GDP per capita growth rate in the United States is 4.4 percent, real GDP per capita doubles every _____ years.
• In 2009, the imaginary nation of Dorados had a population of 8,000 and real GDP of 3,000,000. During the year its real GDP grew by about 2.9%. Which of the following sets of growth rates is consistent with this growth in real GDP? a. 2% population growth
• Last year, the imaginary nation of Freedonia had a population of 2,600 and real GDP of $16,200,000. This year, it had a population of 2,750 and real GDP of $15,680,000. About what was the growth rate of real GDP per person between last year and this year?
• If the growth rate of population is greater than a nation's growth rate of real GDP, it's real GDP per person: a. falls b. rises
• If a country's annual growth rate is 2%, how many years will it take for this country's real per capita GDP to double? A. 35 B. 70 C. 140 D. never
• Last year, the real GDP per person in the imaginary nation of Olympus was $4,350. The year before, it was $4,100. By about what percentage did Olympian real GDP per person grow during the period?
• A country's real GDP is growing at an annual rate of 3.1 percent, and the current rate of growth of per capita real GDP is 0.3 percent per year. What is the population growth rate in this nation?
• A country's real GDP is growing at an annual rate of 4.2 percent, and the current rate of growth of per capita real GDP is 0.4 percent per year. What is the population growth rate in this nation?
• Suppose an economy's real GDP is $30,000 in year 1 and $31,000 in year 2. What is the growth rate of its real GDP? Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of
• A country's real GDP is growing at an annual rate of 3.1 percent, and the current rate of growth of per capita of real GDP is 0.3 percent per year. What is the population growth rate in this nation?
• A nation's real per capita GDP is $7,788 in 2004 and $8,080 in 2005. What is the growth rate of real GDP per capita? A. 3.75% B. 3.5% C. 3.61% D. 2.75%
• Real GDP per person in both Alpha and Omega is equal to $2,000. Over the next 100 years, real GDP per person grows at a 1% annual rate in Alpha and at a 2% annual rate in Omega. After 100 years, real
• Real GDP per person in both Alpha and Omega is equal to $2,000. Over the next 100 years, real GDP per person grows at a 1.5 percent annual rate in Alpha and at a 2.5 percent annual rate in Omega. Afte
• The population is increasing 1.5% every year. Growth Rate of real GDP 3.5% per year. a. What is the approximate growth rate GDP per person? b. What happens to the growth rate of real GDP per person if the population growth rate slows but there is no chang
• A country's real GDP is growing at an annual rate of 3.1 per cent, and the current rate of growth of per capita real GDP is 0.3 per cent per year. What is the population growth rate in this nation?
• For a hypothetical economy in a given year, nominal GDP is $6,000 per year, the GDP deflator is 120 and real consumption is $4,200 per year. What is the value of real GDP? A) $5,000 B) $5,040 C) $4,80
• According to the Rule of 70, if a country's real GDP per capita grows at a rate of 2% per year, how long will it take for real GDP per capita to double?
• Suppose an economy's real GDP is $40,000 in year 1 and $42,200 in year 2. Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?
• A nation's standard of living is best measured by its? a. real GDP. b. real GDP per person. c. nominal GDP. d. nominal GDP per person.
• A country aims to double real GDP per capita in the next 10 years. This means that, on average, real GDP per capita must grow at percent per year.
• If real GDP per capita doubles between 2005 and 2020, what is the average annual growth rate of real GDP per capita? a. 4.7% b. 10.5% c. 15% d. 21%
• A nation's real GDP was growing at only 2.0% per year over time. Then economic conditions improve in the economy, and its sustained growth rate increases to 2.5%. How many fewer years will it take the real output to double in this economy, with a 2.5% gro
• An emerging country has a real GDP of 1443.1. After one year, real GDP has grown to 1472.0. In percentage terms, what is the growth rate?
• Calculate the change in the number of years it will take for real GDP per person in India to double if real GDP per person increases from 5 percent a year to 8 percent a year. When real GDP per person
• Calculate the approximate number of years it will take for real GDP per person to double if an economy maintain an economic growth rate of 12 precent a year and a population growth rate of 7 precent a
• In 2012, real GDP in a country was $752.5 billion and the population was 3.5 million. In 2013, real GDP was $810 billion and the population was 3.6 million. What was the growth rate in real GDP per person during the year?
• If Country A has a 4 percent annual growth rate of real GDP and a 2 percent annual rate of population growth, while Country B has a 6 percent annual growth rate of real GDP and a 5 percent annual rate of population growth, which country has a higher growt
• Suppose the nominal GDP per person is $17,000 in 2004, the 1998 GDP deflator is 100, and the 2004 GDP deflator is 90. What is the approximate real GDP per person in 2004? a. $17,000 b. $18,889 c. $32,300 d. $15,300
• Last year real GDP in the imaginary nation of Populia was 907.5 billion and the population was 3.3 million. The year before real GDP was 750 billion and the population was 3 million. What was the growth rate of real GDP per person during the year?
• Suppose an economy's real GDP is $46,000 in year 1 and $49,200 in year 2. a. What is the growth rate of its real GDP? Round your answer to two decimal places. b. Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GD
• Consumer Goods (CG)Production Goods (PG) Base YrP0= $50Q0= 1000P0=$100Q0=2500 Year 1P1= $52Q1= 1200P1=$98Q1=2300 16) Price level of the Base Year 17) Real GDP of the Base Year 18) Real GDP of Year 1 1
• Real GDP per capita is calculated as the total: A. real GDP in a given year B. real GDP divided by the nominal GDP C. real GDP divided by the population D. nominal GDP divided by the population
• If real GDP per capita was $10,000 in 1990 and $15,000 in 2000, then the amount of economic growth is: a. 5%. b. 0.5% c. 50%. d. 3.3%. e. More information is required to determine the amount of economic growth.
• Use the following information of two years' real GDP, deflator, and population, noting that the base year is set at 2009: 16) What was the real GDP per capita in 2015? 17) Did the price level increas
• 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 growth rate divided by the change in population growth rate c.
• Year | Nominal GDP | Real GDP | Deflator | Inflation (%) 2005. 10,000. 2006. 10,750 5 2007 5,221 215.25
• In growth theory, the standard of living is measured using the growth rate of A) population. B) real GDP per person. C) real GDP. D) employment. E) unemployment.
• If real GDP grows at an average rate of 3% per year, it will double in approximately____years. A. less than 10 B. 20 C. 23 D. 36
• In 2009 the real gross domestic product (GDP) per capita of Ile was $200 million, and in 2010 the real GDP of Ile was $210 million. In 2009 the real GDP per capita of Maxistan was $20 million, and in 2010 the real GDP of Maxistan was $25 million. Which of
• If real GDP per person was equal to $2,000 in 1900 and grew at a 1% annual rate, what would be the value of real GDP per person 100 years later?
• If real GDP was $16 billion last year and is $18 billion this year, what is the growth rate? A) 11.1 percent B) -12.5 percent C) 12.5 percent D) $2 billion E) -11.1 percent
• Suppose that the annual rates of growth of real GDP of Econoland over five consecutive years are as follows: 5%, 2%, -2%, 4%, and 6%. a. What was the average of these growth rates in Econoland over these 5 years? b. What term would economists use to descr
• For a hypothetical economy in a given year, nominal GDP is $9000 per year, the GDP deflator is 120 and nominal consumption is $6000 per year. What is the value of real GDP for that year?
• Real GDP per person in Mexico was $11,000 in 2008 while it was $44,000 per person in Canada. If real GDP per person in Mexico grows at a rate of 10 percent per year, how long will it take Mexico's real GDP per person to reach the level that Canada was at
• 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 growth rate divided by the change in the population growth rate. C) the economic growth rate per person divided by t
• 1. The real GDP in 2010 is A. 190.8. B. 477. C. 500. D. 524.1. 2. The real GDP in 2012 is A. 146.4. B. 682.9. C. 700. D. 717.5. 3. What is the rate of increase for GDP from year 2010 to 2012?
• In 2010, the imaginary nation of Bovina had a population of 5,000 and real GDP of 500,000. In 2011 it had a population of 5,100 and real GDP of 520,200. During 2011 real GDP per person in Bovina grew
• The population in the current year is 275 million and the real GDP is $9 trillion. 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, measured by growth in real GDP per pe
• GDP growth on a year-to-year basis is called: a) nominal growth b) real growth c) short-term growth d) long-term growth
• Real GDP was $8,500 billion in Year 1 and $8,700 billion in Year 2. The population fell from 250 million in Year 1 to 240 million in Year 2. What was the approximate increase in real GDP per capita rate from Year 1 to Year 2? a. 1.3% b. 2.4 percent c. 6.6
• Real GDP is GDP: a. in current year prices b. in base year prices c. in GDP prices d. in that year's prices
• Using the "rule of 70", if annual real GDP per capita growth in South Africa averages 1.8%, how long will it take the country to double its real GDP per capita?
• If the growth rate of real GDP in the United States rises from 4.2% to 4.4%, how will this increase affect the number of years it will take for real GDP to double?
• Suppose that the annual rates of growth of real GDP of Econoland over a five-year period were sequential as follows: 3 percent, 1 percent, -2 percent, 4 percent, and 5 percent. a. What was the average of these growth rates in Econoland over these 5 years?
• The real GDP per person in Indonesia was $744 in 1960 and $3,993 in 2010. What was the economy's average annual growth rate during this period?
• If real GDP is $9.0 million and nominal GDP is $8.8 million, the GDP deflator is _.
• When there is a positive inflation rate: a. growth in real GDP and nominal GDP are roughly equal. b. growth in real GDP exceeds growth in nominal GDP. c. there can never be any growth in nominal GDP. d. growth in nominal GDP exceeds growth in real GDP.
• Real GDP in the U.S. increased by a% in 2008 and increased by b% in 2009, and increased by d% in 2010. In class, we learned that the average annual growth rate of real GDP for the period 2008-2010 can be (1) approximated as: (a% + b% + d%)/3 (2) Differe
• If the growth rate for GDP was 5 percent and GDP in year 1 was 150, then GDP in year 2 would be: (a) 145 (b) 155 (c) 157.5 (d) 180
• If real GDP in a year was $3,668 billion and the price index was 112, then nominal GDP in that year was approximately A. $3,846 billion. B. $3,925 billion. C. $4,108 billion. D. $4,379 billion.
• Real GDP per person in Country A is $5000. RGDP per person in Country B is $45,000. If there is a roughly equal level of investment in both countries, which is likely to grow faster? Why?
• Which of the following is a good gauge of economic progress? a) The level of real GDP per person and the growth rate of real GDP per person. b) Neither the level nor the growth rate of real GDP per person. c) The growth rate of real GDP per person, but
• Bullville's real GDP is $100,000 and it has a growth rate of 1 percent. Bearland's real GDP is $10,000, and it has a growth rate of 5 percent. Which country experienced the larger increase in goods
• A country's rate of real GDP growth is 3% per year. Its population is growing 4% per year. At what rate is its real GDP per capita changing? Select one: a. Real GDP per capita is increasing by 0.75%.
• In the base year A. nominal GDP is always larger than real GDP because prices are held constant. B. real GDP is always larger than nominal GDP because prices are held constant. C. nominal and real GDP are equal by definition. D. real GDP will only be larg
• A) Using the information in the table, calculate the growth rates in Real GDP, population, and the standard of living (real GDP per capita) between year one and year two. B) Calculate the growth rates
• 1. A nation's standard of living is best measured by its a. real GDP. b. real GDP per person. c. nominal GDP. d. nominal GDP per person. 2. Productivity is the a. key determinant of living stan
• If you are given the population growth rate and the GDP growth rate, can you calculate per capita real GDP?
• YearNominal GDPReal GDP Price Index 15,200 4,800 25,500 112 3 5,740 5,000 What was real GDP in Year 2? A. $4,820 billion B. $4,875 billion C. $4,911 billion D. $5,320 billion
• If in 2008, China's real GDP is growing at 9% a year, its population is growing at 1% a year, and these growth rates continue, in what year will China's real GDP per person be twice what it is in 2008?
• YearNominal GDP in Billion dollarsGDP deflator 1929103.611.974 193091.211.534 193176.510.339 193258.79.119 193356.48.875 193466.09.372 193573.39.558 What was the Real growth rate in 19
• A country will roughly double its GDP in 10 years if its annual growth rate is __. a. 5 percent b. 12 percent c. 7 percent d. 10 percent
• The GDP deflator is the ratio of: A. real GDP to nominal GDP. B. real GDP to the inflation rate. C. nominal GDP to real GDP. D. nominal GDP to the inflation rate.
• In 2016 nominal GDP was $18,480 billion and the GDP deflator was 111.4. Real GDP was: a. $111.4. b. $16,593. c. $18,480. d. $20,587.
• In periods when prices are falling, on average, A. real GDP will grow slower than nominal GDP. B. real GDP will grow faster than nominal GDP. C. real GDP will grow as fast as nominal GDP. D. one cannot calculate real GDP.
• If nominal (current dollar) GDP is rising at 6 percent per year and the price level is rising at 3 percent per year, real GDP is rising at: a. 9 percent per year. b. 6 percent per year. c. 3 percent per year. d. 2 percent per year.
• An emerging country has a real GDP of 1,383.4. After one year, real GDP has grown to 1,424.9. In percentage terms, what is the growth rate? Please round your answer to the nearest whole number.
• If real GDP is increasing at a 2% annual rate while the unemployment rate is 7%, the economy is a. experiencing high prices and low inflation. b. experiencing a slump. c. experiencing an increase of 2% in real annual per capita GDP. d. not achieving f