Consider the following data for a particular country. Real GDP per Capita, Year 1 Population, Year 1 and Year 2 $37,500 400 million Growth Rate of Real GDP, Year 1 to Year 2 6 percent Inflation Rate 4 percent Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is real GDP per capita in year 2? b. What is real GDP in year 2? trillion

Consider the following data for a particular country. Real GDP per Capita, Year 1 Population, Year 1 and Year 2 $37,500 400 million Growth Rate of Real GDP, Year 1 to Year 2 6 percent Inflation Rate 4 percent Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is real GDP per capita in year 2? b. What is real GDP in year 2? trillion

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 3E

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