question

Which of the following does not correctly characterize modern economic growth?

answer

It has not affected the average lifespan of human beings.

question

Which of the following best measures improvements in the standard of living of a nation?

answer

growth of real GDP per capita

question

Which of the following is a measure of economic growth that is most useful for comparing changes in standards of living?

answer

increases in real GDP per capita

question

If the economy's real GDP doubles in 18 years, we can

answer

conclude that its average annual rate of growth is 4%.

question

A nation's average annual real GDP growth rate is 6%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is

answer

12 years.

question

A nation's average annual real GDP growth rate is 5%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is

answer

14.4 years.

question

Per capita GDP was about
Alta /Zorn

answer

$303 in year 3 in Zorn.

question

A nation's real GDP was $250 billion in 2014 and $265 billion in 2015. Its population was 120 million in 2014 and 125 million in 2015. What is its real GDP growth rate in 2015?

answer

6.0%