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Over the course of 10 years, a country's population doubles. During this time, its GDP increases ...

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Over the course of 10 years, a country's population doubles. During this time, its GDP increases ...

Over the course of 10 years, a country's population doubles. During this time, its GDP increases from $10 trillion to $12 trillion. Pete, who lives in this country and buys the same goods and services every year, finds that he is still paying the same price for them. Which of the following would explain this?

▸ Purchasing power parity in this country has decreased.

▸ The country's workforce has more than doubled.

▸ Productivity in this country has decreased.

▸ Both A and B

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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