If Year 1 is the base year, the growth of real GDP is approximately

When the price level falls the quantity of

a. consumption goods demanded rises, while the quantity of net exports demanded falls. b. consumption goods demanded and the quantity of net exports demanded both rise. c. consumption goods demanded and the quantity of net exports demanded both fall. d. consumption goods demanded falls, while the quantity of net exports demand rises.

If the economy's real GDP doubles in 8 years, we can

A. conclude that its average annual rate of growth is 9%. B. conclude that its average annual rate of growth is 12%. C. conclude that its average annual rate of growth is 8%. D. not say anything about the average annual rate of growth.