Question

In 1959, real GDP totaled $575 billion and in 2009 it totaled $1,255 billion. Between 1959 and 2009, the population increased from 50 million to 100 million. Between 1959 and 2009, the standard of living based on real GDP per person
A increased from $11,500 to $12,550.

B increased by about 118 percent.

C increased by over 300 percent.

D decreased from $125,500 to $28,750.

E decreased by 9 percent.

Answer 1

Answer:

A. increased from $11,500 to $12,550.

Explanation:

The standard of living based on real GDP per person can be determine by calculating the Real GDP / Population size

Real GDP per capita in 1959 = $575 billion / 50 million = $11,500

Real GDP per capita in 2009 = $1255 billion / 100 million = $12,550

From observation, Real GDP per person increased from $11,500 to $12,550.