5. The real GDP per capita in Colombia was $3,692 in 2000 and $5,889 in 2020. What is the average annual growth rate of the real GDP per capita from 2000 to 2020? Please use the log formula.
5. The real GDP per capita in Colombia was $3,692 in 2000 and $5,889 in 2020. What is the average annual growth rate of the real GDP per capita from 2000 to 2020? Please use the log formula.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter17: Economic Growth: Resources, Technology, Ideas And Institutions
Section: Chapter Questions
Problem 3QP
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Step 1
Given
GDP per capita in 2000
GDP per capita in 2020
time = 2020-2000= 20 years
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