Question

When computing economic growth, changes in nominal gross domestic product (GDP) must be adjusted to reflect population growth because:

Answer 1

if real GDP remains the same, an increase in the population actually means a lower average standard of living

Step-by-step explanation:

Economic Growth is a increase in productive capabilities of an economy over a given period of time, usually a year. the economy is able to satisfy more of it's consumers wants and need.

GDP is said to be is total value of all finale goods and services produced within an economy in a given period of time, usually a year.nominal or price GDP is a GDP with no adjustment for price.