If an economy's population grows at 3 percent and GDP grows at 4 ...

[frankwu]

If an economy's population grows at 3 percent and GDP grows at 4 percent, then:
 a. per capita real GDP is declining.
  b. the economy's standard of living is decreasing.
  c. per capita real GDP is negative.
  d. per capita real GDP is growing.
  e. the economy is experiencing unemployment.

Question 2

In an economy where nominal incomes adjust equally to changes in the price level, we would expect the long-run aggregate supply curve to be:
 a. vertical.
 b. horizontal.
 c. unit elastic.
 d. negatively sloped.
 e. positively sloped.

[ndhahbi]

Answer to Question 1

d

Answer to Question 2

a