AP Macroeconomics Question 198: Answer and Explanation
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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