detained for only a reasonable time, and (3) investigations are conducted in a reasonable manner.
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If all quantities produced rise by percent and all prices fall by percent, which of the following best describes what occurs?
a. Real GDP rises by percent, while nominal GDP falls by percent.
b. Real GDP rises by percent, while nominal GDP is unchanged.
c. Real GDP is unchanged, while nominal GDP rises by percent.
d. Real GDP is unchanged, while nominal GDP falls by percent.
The Bureau of Census estimates the population in the United States at people and the population of the world at billion people. The Gross Domestic Product (GDP) of the United States is estimated to be about trillion. Other recent estimates are: U.S. exports, billion; U.S. imports, trillion. Answer the following questions based on these data.
What percent of the world's population lives in the U.S., to the nearest tenth percent?