Asked by Kylie Gravel on Jun 10, 2024
Verified
If population increases,which of the following will be true?
A) GDP will increase.
B) GDP per capita will fall at a faster rate than the increase in population.
C) GDP must increase if the same standard of living is to be maintained.
D) The labor force must increase if the same standard of living is to be maintained.
E) Overall demand will increase,but per capita aggregate demand will remain constant.
GDP Per Capita
The gross domestic product divided by the population, measuring the average economic output per person and often used as an indicator of living standards.
Population Increases
A rise in the number of individuals within a specific area or country, which can impact resources, employment, and economic growth.
Labor Force
The aggregate count of individuals who are either working or actively looking for work within a specified economy.
- Gain insight into how GDP growth, population rise, and quality of life are interlinked.
Verified Answer
AK
Aliza KombarbayevaJun 11, 2024
Final Answer :
C
Explanation :
If population increases, the overall demand for goods and services will increase. In order to maintain the same standard of living, GDP must also increase to meet the increased demand. However, GDP per capita may not necessarily increase at the same rate as population growth.
Learning Objectives
- Gain insight into how GDP growth, population rise, and quality of life are interlinked.