In 2012, 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 and 6% real GDP growth
b. 6% population growth and 2% real GDP growth
c. 4% population growth and 7% real GDP growth
d. 7% population growth and 4% real GDP growth
c
Economics
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In regression analysis, the explanatory variables
A) are always price and income. B) are the variables whose variations are to be explained. C) are the factors that are thought to affect the dependent variable. D) are used to explain the random error term.
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