We have learned that there is a significant difference between GDP and GDP per c

Question

We have learned that there is a significant difference between GDP and GDP per capita. Which of the following best describes these two measures? GDP is different in every country but GDP per capita is almost the same in every country. GDP per capita is different in every country but GDP is almost the same in every country. GDP and GDP per capita are almost the same in every country. Leves of GDP and GDP per capita are different in every country. 3.3333 points Save Answer QUESTION 10 Please consider changes in Real GDP and Real GDP per capita. Prior to the industrial revolution, and for many thousands of years of man's existence, which of the following were true about these two measures. Real GDP may have increased over tmu eal GDP per capita did not meaning that quality of life did not improve for many people in that period meaning that quality of life did not Real GDP and Real GDP per capita increased over time meaning that quality of life improved for many people in that period. Real GDP per capita may have increased over time but Real GDP did not meaning that quality of life did not improve for many people in that period. Neither Real GDP not Real GDP per capita increased in any year until the industrial revolution.

Explanation / Answer

9.

D

Level of GDP and GDP per capita is different for each country.

10.

A

11.

B

GDP per capita in Bayland = 10000/100 = $100

GDP per capita in Oceana = 55000/500 = $110

GDP per capita in highlands = 20000/200 = $100

GDP per capita in Low Country = 60000/750 = $80

12.

A

It will happen during the expansion phase of the business cycle.

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