Consider the following data for a particular country. Real GDP per capita, Year 1 $50,000 Population, Year 1 and Year 2 400 million Inflation Rate 4 percent Growth Rate of Real GDP, Year 1 to Year 2 9 percent Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is real GDP per capita in year 2? $ b. What is real GDP in year 2? $ trillion

Consider the following data for a particular country. Real GDP per capita, Year 1 $50,000 Population, Year 1 and Year 2 400 million Inflation Rate 4 percent Growth Rate of Real GDP, Year 1 to Year 2 9 percent Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is real GDP per capita in year 2? $ b. What is real GDP in year 2? $ trillion

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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