From 2007-2008 nation a saw real gdp increase from $100 billion to $106 billion. the population of nation a also grew from 50 million to 51 million from 2007-2008. the annual growth rate in real gdp per capita was approximately:

Question

Business

Tapia

15 June, 19:31

From 2007-2008 nation a saw real gdp increase from $100 billion to $106 billion. the population of nation a also grew from 50 million to 51 million from 2007-2008. the annual growth rate in real gdp per capita was approximately:

+3

Answers (1)

Know the Answer?

Avery Mccarty · Answer 1

Real GDP (2007) = $100 billion.

Real GDP (2007) = $106 billion.

The population (2007) = 50 million.

The population (2008) = 51 million.

The annual growth of Real GDP = $106 billion - $100 billion =

= $6 billion = $6,000,000,000.

The annual growth of the population:

51 million - 50 million = 1 million = 1,000,000

$6,000,000,000 : 1,000,000 = $6,000

Answer: The annual growth rate in Real GDP per capita is $6,000.