Nation;s real GDP was $520 billion in 2013 and $550 billion in 2014. Its population was 150 million in 2013 and 155 million in 2014. On the other hand, Nation B's real GDP was $200 billion in 2013 and $210 billion in 2014; and its population was 53 million in 2013 and 55 million in 2014. Which of the following statements is true?
A. Nation A's real GDP growth in 2014 is higher than Nation B's
B. Nation B's real GDP growth in 2014 is higher than Nation A's
C. Nation A's real GDP growth in 2014 is identical to Nation B's
D. Nation A's and Nation B's real GDP growth rates in 2014 are both higher than 10%
A. Nation A's real GDP growth in 2014 is higher than Nation B's
You might also like to view...
Based on the assumptions in the Application, should Rory hire a gardener or cut the weeds himself?
A) He should hire the gardener because he would save $800. B) He should cut the weeds himself because he would save $1,000. C) He should hire the gardener because he would save $1,000. D) He should cut the weeds himself because he would save $200.
The income elasticity of demand for health care is generally less than 1, indicating consumers consider these services to be luxuries
Indicate whether the statement is true or false