What is the growth rate of its gdp

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Reference no: EM13188695

Suppose an economy's real GDP is $50,000 in year 1 and $55,000 in year 2.
What is the growth rate of its GDP? Assume that population was 100 in year 1 and 105 in year 2. What is the growth rate in GDP per capita?

Reference no: EM13188695

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