Last year real GDP in the imaginary nation of Populia was 907.5 billion and the population was 3.3 million. The year before real GDP was 750 billion and the population was 3 million. What was the growth rate of real GDP per person during the year?

a. 10 percent b. 14 percent c. 17 percent d. 21 percent

  1. 👍
  2. 👎
  3. 👁
  1. (907.5)/(3.3) / (750/3) = 1.1
    so, 10% growth

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. ECON-HELP!!

    1. In the Country of Wiknam, the velocity of money is constant. Real GDP grows by 5 percent per year, the money stock grows by 14 percent per year, and the nominal interest rate is 11 percent. What is the real interest rate? 2.

  2. math

    Chinese population is 1.33 billion, assuming a growth rate of 0.49% a year, how long until it reaches 1.5 billion?

  3. Math

    he world population at the beginning of 1990 was 5.3 billion. Assume that the population continues to grow at the rate of approximately 2%/year and find the function Q(t) that expresses the world population (in billions) as a

  4. Math

    Assume the carrying capacity of the earth is 9 billion. Use the 1960s peak annual growth rate of 2.1​% and population of 3 billion to predict the base growth rate and current growth rate with a logistic model. Assume a current

  1. Economics

    The value of the marginal propensity to save is 0.2. If real GDP increases by $50 billion, this situation was the result of an increase in the aggregate expenditures schedule of: a. $10 billion b. $15 billion c. $16 billion d. $40

  2. Macroeconomics

    Assume the simple spending multiplier equals 10. Determine the size and direction of any changes in the aggregate expenditure line, real GDP demanded, and the aggregate demand curve for each of the following changes in spending:

  3. macroeconomics

    23. The next four questions refer to the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Units of Price Year output per unit 1 16 $2 2 20 3 3

  4. Precalculus

    "Show that x^6 - 7x^3 - 8 = 0 has a quadratic form. Then find the two real roots and the four imaginary roots of this equation." I used synthetic division to get the real roots 2 and -1, but I can't figure out how to get the

  1. Economics Macro

    Suppose that real GDP per capita in the United States is $49,000. If the long-term growth rate of real GDP per capita is 1.6% per year, how many years will it take for real GDP per capita to reach $98,000?

  2. math

    china population is 1.33 billion and continues to grow at the same rate,how many years until the population reaches 1.5 billion people?

  3. macroeconomics

    27. The following data show nominal GDP and the appropriate price index for several years. Compute real GDP for each year and indicate whether you have “inflated” or “deflated” nominal GDP in finding real GDP. All GDP are

  4. macroeconomics

    Year - 2000 Nominal GDP: 9,817 Real GDP: ___________ GDP Deflator: 1 Inflation 2.2 Real GDP Per capita: _________ Population 283.7 Year – 2001 Nominal GDP: ________ Real GDP: 9,891 GDP Deflator: _________ Inflation 2.4 Real GDP

You can view more similar questions or ask a new question.