AP Macroeconomics Mea 2 B a Define Measures and Determinants of Economic Growth B Explain Using Graphs and Data As Appropriate the Determinants of Questions

Practise measuring economic growth with real GDP per capita and tracing how labour, productivity, technology, and physical or human capital change long-run output.

Exam points

calculate real GDP per capita by dividing real GDP by population and compare it across years
identify sustained growth in real GDP per capita as economic growth and improved living standards
interpret output per worker or labour per unit of output as measures of average labour productivity
distinguish human-capital investment such as education or training from purchases of physical capital
explain how technology and capital per worker raise productivity and real GDP per capita
use the aggregate production function to relate employment to output or show shifts from capital investment
link changes in investment to capital formation, potential real GDP, and the long-run growth rate

[Maximum number: 1]

The table provided shows economic data for the country of Louland. The base year is year 1, and the GDP deflator in year 2 is 115.

Table for Question AP Macroeconomics Mea 2 B a Define Measures and Determinants of Economic Growth B Explain Using Graphs and Data As Appropriate the Determinants of Questions question 1 — AP Macroeconomics

Did the standard of living of the average citizen in Louland increase, decrease, or remain the same from year 1 to year 2 ? Explain using numbers.

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AP Macroeconomics Mea 2 B a Define Measures and Determinants of Economic Growth B Explain Using Graphs and Data As Appropriate the Determinants of Questions question 1