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Calculate real gdp and real gdp per capita

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Reference no: EM132351020

Question #1: Suppose nominal GDP in 2010 was $120,008,000 and in 2011 it was $130,000,000. The GDP price index in 2010 was 140 and in 2011 it was 150. The population in 2010 was 25,600 and in 2011 it was 35,000.

  1. Calculate Real GDP and Real GDP per capita in each year. (10 points)
  2. Calculate the growth rate of Real GDP and of Real GDP per capita (15 points)

Rubric:

To receive partial credit students must show their work.

Reference no: EM132351020

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