ppose a family\'s income increases by 5% at the same time that inflation is 6%.

Question

ppose a family's income increases by 5% at the same time that inflation is 6%. Then family's living standard: increase by 5% ll not change ill increase by 1% will decrease the population of a country increases by . Suppose that real GDP increases by 5% while The population of country increases by 7. Then Output per person necessarily increases Output per person necessarily decreases Output per person necessarily remains unchanged There is not enough information to determine what happens to output per person

Explanation / Answer

Suppose a family's income increases by 5% at the same time that inflation is 6%. Then the family's standard of living option (d) i.e., will decrease

Suppose that real GDP increases by 5% while the population of a country increases by 7%. Then output per person necessarily decreases i.e., correct optioin is (b)

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