Using the data In the table below related to nominal GDP, real GDP, and total population, answer the questlons for the time perlod 2012-2017: Real GDP (in Millions) (2012 Base Year) Population (in Millions) Nominal GDP (in (suo 282.4 000 10,128,000 513,131.000 000 13,262,000 285.5 13,493.000 288.8 000'89 13,879,000 291.0 000'096 0 2004 14,406,000 203.7 2005 12,422,000 14,913,000 296.6 13,178,000 900 000'808 14,291,000 15,605,000 800 13,930,000 15,200,000 600 14,524,000 000'889 2011 15,518,000 15,841,000 311.7 2012 16,163,000 16,197,000 314.0 16,768,000 16,495,000 316.2 16,912,000 318.6 000 000 18,954,000 17,432,000 17,731,000 323.1 000' 20,612,000 325.1 327.1 2019 21,433,000 329.1 Instructlons: 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 2012 and 2017. For 2012: Nominal GDP per capita = $ %3D Real GDP per caplta = $ For 2017: Nominal GDP per capita = $ Real GDP per capita = $ b. By what percentage did nominal per capita GDP Increase?
Using the data In the table below related to nominal GDP, real GDP, and total population, answer the questlons for the time perlod 2012-2017: Real GDP (in Millions) (2012 Base Year) Population (in Millions) Nominal GDP (in (suo 282.4 000 10,128,000 513,131.000 000 13,262,000 285.5 13,493.000 288.8 000'89 13,879,000 291.0 000'096 0 2004 14,406,000 203.7 2005 12,422,000 14,913,000 296.6 13,178,000 900 000'808 14,291,000 15,605,000 800 13,930,000 15,200,000 600 14,524,000 000'889 2011 15,518,000 15,841,000 311.7 2012 16,163,000 16,197,000 314.0 16,768,000 16,495,000 316.2 16,912,000 318.6 000 000 18,954,000 17,432,000 17,731,000 323.1 000' 20,612,000 325.1 327.1 2019 21,433,000 329.1 Instructlons: 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 2012 and 2017. For 2012: Nominal GDP per capita = $ %3D Real GDP per caplta = $ For 2017: Nominal GDP per capita = $ Real GDP per capita = $ b. By what percentage did nominal per capita GDP Increase?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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