If real GDP per person were equal to $2,000 in 1900 and grew at a one percent annual rate, what would be the value of real GDP per person 100 years later?

A. $2,210
B. $4,000
C. $20,000
D. $5,410

Answer: D

Economics

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Switzerland provides a counterexample to the claim

A) nations are poor because they are subject to exploitation by nations with superior military power. B) the rule of law is necessary for economic growth. C) military power is the source of the wealth of a nation. D) central economic planning doesn't work.

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Most economists attribute the growing income inequality in the United States to

A) trade. B) macroeconomic policies. C) technological change. D) changing values. E) taxes.

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