Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Itspopulation was 150 million in 2014 and 155 million in 2015. On the other hand,Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and itspopulation was 53 million in 2014 and 55 million in 2015. Which of the followingstatements is true?A) Marketopia's and Econland's GDP per capita both decreased from 2014 to2015.B) Marketopia's GDP per capita increased from 2014 to 2015, while Econland'sdecreased.C)Marketopia's and Econland's GDP per capita both increased from 2014 to2015.D)Econland's GDP per capita increased from 2014 to 2015, while Marketopia'sdecreased.

GDP(gross domestic product) per capita is obtained by dividing the GDP by population. It is useful…

Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its population was 150 million in 2014 and 155 million in 2015. On the other hand, Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and its population was 53 million in 2014 and 55 million in 2015. Which of the following statements is true? A) O A) Marketopia's and Econland's GDP per capita both decreased from 2014 to 2015. B) Marketopia's GDP per capita increased from 2014 to 2015, while Econland's decreased. C) Marketopia's and Econland's GDP per capita both increased from 2014 to 2015. Econland's GDP per capita increased from 2014 to 2015, while Marketopia's OD) decreased.

Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its population was 150 million in 2014 and 155 million in 2015. On the other hand, Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and its population was 53 million in 2014 and 55 million in 2015. Which of the following statements is true? A) O A) Marketopia's and Econland's GDP per capita both decreased from 2014 to 2015. B) Marketopia's GDP per capita increased from 2014 to 2015, while Econland's decreased. C) Marketopia's and Econland's GDP per capita both increased from 2014 to 2015. Econland's GDP per capita increased from 2014 to 2015, while Marketopia's OD) decreased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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