Suppose that during the next 10 years, real GDP grows by half and population doubles in the country. b. After 10 years have passed, what will be this country's real GDP per capital?

Question

Business

Lorena Warner

Today, 16:38

Suppose that during the next 10 years, real GDP grows by half and population doubles in the country. b. After 10 years have passed, what will be this country's real GDP per capital?

+3

Answers (1)

Know the Answer?

Brenton · Answer 1

Suppose a country had a population of 5 million and its Real GDP was $100 million. the population will double in 10 years and reach 10 million while growth of real GDP is half as compared to population so it will reach $150 million. The real GDP per capita would be;

RGDP per capita = Real GDP/population

= $150000000/10000000

= $15

this is just a hypothetical example the figures can vary from country to conutry