Asked by Jasmine Mendoza on Jun 07, 2024
Verified
From 1964 to the present,real GDP
A) stayed roughly the same.
B) more than doubled.
C) almost quadrupled.
D) fell until 1975 then increased fivefolD.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in a given year, reflecting the true economic output.
More Than Doubled
"More than doubled" describes a scenario where an amount or value increases by more than 100% of its original value.
- Connect economic theories and concepts with various historical economic periods and alterations in policy.
Verified Answer
AA
Aisha AlhosaniJun 11, 2024
Final Answer :
C
Explanation :
According to the data, real GDP has increased from $3.8 trillion in 1964 to about $18.6 trillion in 2016 (source: Bureau of Economic Analysis). This is an increase of almost 5-fold, which is close to quadrupled.
Learning Objectives
- Connect economic theories and concepts with various historical economic periods and alterations in policy.
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