Need some help figuring this out Instructions: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded toone decimal place.a. Calculate nominal and real GDP per capita for 2009 and 2014.For 2009:Nominal GDP per capita = $Real GDP per capita = $For 2014:Nominal GDP per capita = $Real GDP per capita = $b. By what percentage did nominal per capita GDP increase?%c. By what percentage did real GDP per capita increase?% Nominal GDP (inMillions)Real GDP (inMillions) (2012Base Year)Population (inMillions)Year2000$9,817,000$13,131,000282.4200110,128,00013,262,000285.5200210,469,00013,493,000288.6200310,960,00013,879,000291.0200411,685,00014,406,000293.7200512,422,00014,913,000296.6200613,178,00015,338,000299.8200713,808,00015,626,000302.0200814,291,00015,605,000304.9200913,939,00015,209,000307.0201014,524,00015,599,000309.4201115,518,00015,841,000311.7201216,163,00016,197,000314.0201316,768,00016,495,000316.2201417,393,00016,912,000318.6201518,037,00017,432,000320.9201618,954,00017,731,000323.1201719,543,00018,144,000325.1201820,612,00018,688,000327.1201921.433.00019.092.000329.1

Formulas: 1. Nominal GDP per capita = Nominal GDP / Population 2. Real GDP per capita = Real GDP /…

a. Calculate nominal and real GDP per capita for 2009 and 2014. For 2009: Nominal GDP per capita = $| Real GDP per capita = $ | For 2014: Nominal GDP per capita = $| %3D Real GDP per capita = $ | b. By what percentage did nominal per capita GDP increase?

a. Calculate nominal and real GDP per capita for 2009 and 2014. For 2009: Nominal GDP per capita = $| Real GDP per capita = $ | For 2014: Nominal GDP per capita = $| %3D Real GDP per capita = $ | b. By what percentage did nominal per capita GDP increase?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Need some help figuring this out

Instructions: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded to
one decimal place.
a. Calculate nominal and real GDP per capita for 2009 and 2014.
For 2009:
Nominal GDP per capita = $
Real GDP per capita = $
For 2014:
Nominal GDP per capita = $
Real GDP per capita = $
b. By what percentage did nominal per capita GDP increase?
%
c. By what percentage did real GDP per capita increase?
%

Nominal GDP (in
Millions)
Real GDP (in
Millions) (2012
Base Year)
Population (in
Millions)
Year
2000
$9,817,000
$13,131,000
282.4
2001
10,128,000
13,262,000
285.5
2002
10,469,000
13,493,000
288.6
2003
10,960,000
13,879,000
291.0
2004
11,685,000
14,406,000
293.7
2005
12,422,000
14,913,000
296.6
2006
13,178,000
15,338,000
299.8
2007
13,808,000
15,626,000
302.0
2008
14,291,000
15,605,000
304.9
2009
13,939,000
15,209,000
307.0
2010
14,524,000
15,599,000
309.4
2011
15,518,000
15,841,000
311.7
2012
16,163,000
16,197,000
314.0
2013
16,768,000
16,495,000
316.2
2014
17,393,000
16,912,000
318.6
2015
18,037,000
17,432,000
320.9
2016
18,954,000
17,731,000
323.1
2017
19,543,000
18,144,000
325.1
2018
20,612,000
18,688,000
327.1
2019
21.433.000
19.092.000
329.1

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