Question

During 2013, the country of Economic had a real GDP of $115 billion and the population was 0.9 billion. In 2012, real GDP was 105 billion and the population was 0.85 billion. Economics growth rate of real GDP per person is

Answer 1

2013=GDP of $115 billion and population=0.9billion

2012==GDP of $105 billion and population=0.85 billion

Economics growth rate of real GDP, Egr per person is;

$Egr=\frac{\text{change in real GDP}}{\text{change in population}}$

Egr=(10/0.05)= 200 GDP/population