16. A rise in Real GDP signifies: a. an increase in the cost of living an increa

Question

16. A rise in Real GDP signifies: a. an increase in the cost of living an increase in the standard of living c. a decrease in the velocitv of monev d. absolute real economic growth e. an increase in the quantity of final goods and services produced f. b, d, and e 17. Growth in Real Per Capita Income can be the result of: a. an increase in real GDP with population b. changes in tax rates for the wealthiest 1% of c. an increase in real GDP with a decreasing d. a redistribution of wealth following a deep e. both b and d constant the population population recession f. both a and c

Explanation / Answer

16 f. Increase in real GDP means there is economic growth.

17 f. Real per capital income =Real GDP/Population.

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