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?

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

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?

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GDP minus depreciation is the formula used to calculate a- Net national product b- Gross natioal Product c- Gross Domestic Product d- Natioal income
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