Assume that a very tiny and very poor DVC has income per capita of $300 and total national income of $3 million. How large is its population? If its population grows by 2 percent in some year while its total income grows by 3 percent, what will be its new income per capita rounded to full dollars? If the population had not grown during the year, what would have been its income per capita?

Q: C                      I                         G                               NX…

A: Nominal GDP = C + I + G + NX Nominal GDP in the year 1 = 1000 + 156 + 560 +52…

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