Determine the growth rate of the economy''s real gdp

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Reference no: EM13177561

Suppose an economy's real GDP is $38,000 in year 1 and $41,200 in year 2. What is the growth rate of its real GDP?

(Instructions: Round your answer to two decimal places.)

The growth rate of the economy's real GDP = %

Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?

(Instructions: Round your answer to two decimal places.)

The growth rate of the economy's real GDP per capita = %

Reference no: EM13177561

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