Questions
MUF0062 Economics Unit 2 - Semester 2, 2025 Revision Quiz - Economic Growth (10 - 15 minutes)
Single choice
Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?
Options
A.a. Inflation
B.b. Nominal GDP
C.c. Real GDP
D.d. Real GDP per capita
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Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?
Part 1The population and real GDP LOADING... for the United States is shown in the table below. Use it to answer the following questions.[table] YEAR | US POPULATION(in millions) | Real GDP (2000)(in billions) 2001 | 281281 | $9,9009,900 2002 | 284284 | $10,09810,098 2003 | 288288 | $10,40110,401 2004 | 291291 | $10,60910,609 [/table]The real GDP per capita LOADING... for 2002 is $[input]enter your response here . (Round your response to the nearest dollar.)Part 2The real GDP per capita for 2003 is $[input]enter your response here . (Round your response to the nearest dollar.)Part 3The growth rate of real GDP per capita from 2002 to 2003 is [input]enter your response here %. (Round your response to two decimal places.)
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