Question

FYI: (income/prices)*100 = real income

economy	A	B
GDP ($ million)	90000 120000	145000	160000
Prices	100         120	100	109
Population (mil)	3              3.2	5	6.4

1)Which economy grew? (A,B, both, neither). Which grew more?

a)Can growth alone, while IGNORING prices and/or population, be good? 4)Which population grew? (A,B, both, neither) 5)Which population grew more?

b)Can population growth in itself be good?

2)Which had GDP per capita growth (A, B, both, neither)? 8)Which had inflation? (A, B, both, neither) 9)Which had bigger inflation?

a)Is price growth by itself a good or bad thing?

b)Can real growth in itself be good?

3)Which had real growth (A, B, both, neither)?

a)Which had more real growth?

b)Which had real per capita growth (A, B, both, neither)?

hint: You will calculate only one decimal figure at the end, if you do the above calculations correct

Answer 1