In 1959, real GDP totaled $575 billion and in 2009 it totaled $1,255 billion. Be
ID: 1105847 • Letter: I
Question
In 1959, real GDP totaled $575 billion and in 2009 it totaled $1,255 billion. Between 1959 and 2009, the population increased from 50 million to 100 million. Between 1959 and 2009, the standard of living based on real GDP per person
increased from $11,500 to $12,550.
increased by about 118 percent.
increased by over 300 percent.
decreased from $125,500 to $28,750.
decreased by 9 percent.
Aincreased from $11,500 to $12,550.
Bincreased by about 118 percent.
Cincreased by over 300 percent.
Ddecreased from $125,500 to $28,750.
Edecreased by 9 percent.
Explanation / Answer
Answer.) A.) increased from $11,500 to $12,550.
Real GDP per capita in 1959 = $575 bn / 50 mn = $11,500
Real GDP per capita in 2009 = $1255 / 100 mn = $12,550
Thus, real GDP per person increased from $11,500 to $12,550.