Page(s) 292–296
10.2. What are the three major topics in macroeconomics?
Match the use of GDP data to the appropriate situation.
Measuring living standards
Measuring economic growth
Lupe examines the per capita real GDP of seven nations to determine which country might have the wealthiest citizens.
Correct label:
Measuring living standards
Carrie calculates real GDP to determine how much GDP has risen since the Great Depression while taking into account changing prices.
Correct label:
Measuring economic growth
Leia examines GDP over a ten-year period to determine whether the economy of a particular country is in decline or on the rise.
Correct label:
Measuring economic growth
Bethany finds that even though Peru's GDP has increased, the country's population has also increased, and there is now a smaller amount of GDP for the average citizen of Peru.
Correct label:
Measuring living standards