Long-run economic growth in the United States is best measured using A. nominal GDP per capita, which has been trending strongly upwards over the past century. B. nominal GDP per capita, the values for which represent constant purchasing power. C. real GDP per capita, which has increased every single year over the past century. D. real GDP per capita, which has been trending strongly upwards over the past century.

Question

Chaya Moyer

Business

8 December, 19:48

Long-run economic growth in the United States is best measured using A. nominal GDP per capita, which has been trending strongly upwards over the past century. B. nominal GDP per capita, the values for which represent constant purchasing power. C. real GDP per capita, which has increased every single year over the past century. D. real GDP per capita, which has been trending strongly upwards over the past century.

+2

Answers (1)

Know the Answer?

Francis Jefferson · Answer 1

D) real GDP per capita, which has been trending strongly upwards over the past century.

Explanation:

The real GDP per capita is GDP per capita adjusted to inflation. American real GDP per capita has not increased every single year during the past century, the country has been through recessive economic periods but generally speaking the American economy shows a strongly upward trend during the past century.

Currently the real GDP per capita of the US is around $58,000 (measured in 2012 US dollars), while the real GDP per capita during 1950 was $14,490 (also measured in 2012 US dollars).