AP Macroeconomics Question 198: Answer and Explanation

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Question: 198

7. If real GDP per capita was $20,000 in 1980 and $21,000 in 1990, then we conclude that the standard of living has increased

  • A. 0.5 percent.
  • B. 5.0 percent.
  • C. 50 percent.
  • D. 3.3 percent.
  • E. More information is required to determine the amount of economic growth.

Correct Answer: B

Explanation:

(B)