By NEAS - 8/15/2018 5:16:43 PM
Macro Module 13 Real GDP per capita practice exam questions
(The attached PDF file has better formatting.)
● The nominal money supply increases 2.13%
● The price level increases 5.82%
● The population decreases 0.81%
Money transaction costs do not change, so the real demand for money is proportional to real GDP.
Question 13.1: Real GDP
What is the change in real GDP?
Answer 13.1: 2.13% – 5.82% = -3.69%
(percentage change in nominal money supply – percentage change in price level = percentage change in real money supply = percentage change in demand for money = percentage change in real GDP)
Question 13.2: Real GDP per capita
What is the change in real GDP per capita?
Answer 13.2: -3.69% – -0.81% = -2.88%
(percentage change in real GDP – percentage change in population = percentage change in real GDP per capita)
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