1.At an annual growth rate of 4 percent, real GDP will double in about:

A. 17^1/2 years

B. 20 years

C. 13^1/2 years

D. 15 years

Ans. A

Use the following to answer questions 2-5:

Year	Alta (real GDP)	Zorn (real GDP)	Alta (population)	Zorn (Population
1	$ 2,000	$ 150,000	200	500
2	2,100	152,000	202	505
3	2,200	154,000	210	508

2. Refer to the above table. Between years 1 and 2, real GDP grew by __________ percent in Alta:

A)3 percent.

B)4 percent.

C)5 percent.

D)10 percent.

Answer: C

3. Refer to the above table. Between years 1 and 2, real GDP per capita grew by __________ percent

in Alta:

A)3

B)4

C)5

D)10

Answer: B

4. Refer to the above table. Between years 2 and 3:

A)Alta's real GDP grew more rapidly than Zorn's real GDP.

B)real GDP fell in Zorn.

C)population growth reduced Alta's real GDP growth to zero.

D)population fell in Alta.

Answer: A

5. Refer to the above table. Per capita GDP was about:

A)$105 in year 3 in Alta.

B)$303 in year 3 in Zorn.

C)$200 in year 1 in Zorn.

D)$5 in year 2 in Alta.

Answer: B

Answer rating: 100% (QA)

Year to double red app 70 A 2 change in real GDP Alla Growth rate B option 1 Yodos A BW 2 1 rise ... View the full answer