If real GDP per capita was $20,000 in 1980 and $21,000 in 1990, then we conclude that the standard of living has increasedПитання 3Виберіть одну відповідь:a.50 percentb.0.5 percentc.5.0 percentd.3.3 percent
Question
If real GDP per capita was 21,000 in 1990, then we conclude that the standard of living has increasedПитання 3Виберіть одну відповідь:a.50 percentb.0.5 percentc.5.0 percentd.3.3 percent
Solution
To answer this question, we first need to calculate the percentage increase in real GDP per capita from 1980 to 1990.
Here are the steps:
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Subtract the real GDP per capita in 1980 from the real GDP per capita in 1990. This gives us the amount of increase.
20,000 = $1,000
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Next, divide the increase by the real GDP per capita in 1980. This gives us the proportion of increase.
20,000 = 0.05
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Finally, multiply the proportion by 100 to convert it to a percentage.
0.05 * 100 = 5%
So, the standard of living has increased by 5.0 percent from 1980 to 1990. Therefore, the correct answer is c. 5.0 percent.
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