Using the data In the table below related to nominal GDP, real GDP, and total population, answer the questlons for the time perlod 2010-2019: Real GDP (in Millions) (2012 Base Year) Population (in Nominal GDP (in Millions) Year (suo!W 282.4 000 10,128.000 13,262.000 285.5 2002 288.6 000 291.0 2004 12,422,000 14.913.000 296.6 13,178,000 9002 8887 15.626,000 000 808 14.291.000 15,605.000 800 600 2010 14,524,000 2011 15,518,000 15.841.000 311.7 2012 16,163,000 16,197,000 2013 16,768,000 16,495,000 316.2 2014 16,912,000 318.6 2015 17,432,000 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 21.433,000 329.1 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 2010 and 2019. For 2010: Nominal GDP per capita = $ Real GDP per capita = $ For 2019: Nominal GDP per capita = $ %3D Real GDP per capita = $ %3D b. By what percentage did nominal per capita GDP Increase? %L

Using the data In the table below related to nominal GDP, real GDP, and total population, answer the questlons for the time perlod 2010-2019: Real GDP (in Millions) (2012 Base Year) Population (in Nominal GDP (in Millions) Year (suo!W 282.4 000 10,128.000 13,262.000 285.5 2002 288.6 000 291.0 2004 12,422,000 14.913.000 296.6 13,178,000 9002 8887 15.626,000 000 808 14.291.000 15,605.000 800 600 2010 14,524,000 2011 15,518,000 15.841.000 311.7 2012 16,163,000 16,197,000 2013 16,768,000 16,495,000 316.2 2014 16,912,000 318.6 2015 17,432,000 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 21.433,000 329.1 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 2010 and 2019. For 2010: Nominal GDP per capita = $ Real GDP per capita = $ For 2019: Nominal GDP per capita = $ %3D Real GDP per capita = $ %3D b. By what percentage did nominal per capita GDP Increase? %L

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

Using the data In the table below related to nominal GDP, real GDP, and total population, answer the questlons for the time perlod
2010-2019:
Real GDP (in
Millions) (2012
Base Year)
Population (in
Nominal GDP (in
Millions)
Year
(suo!W
282.4
000
10,128.000
13,262.000
285.5
2002
288.6
000
291.0
2004
12,422,000
14.913.000
296.6
13,178,000
9002
8887
15.626,000
000 808
14.291.000
15,605.000
800
600
2010
14,524,000
2011
15,518,000
15.841.000
311.7
2012
16,163,000
16,197,000
2013
16,768,000
16,495,000
316.2
2014
16,912,000
318.6
2015
17,432,000
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
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 2010 and 2019.
For 2010:
Nominal GDP per capita = $
Real GDP per capita = $
For 2019:
Nominal GDP per capita = $
%3D
Real GDP per capita = $
%3D
b. By what percentage did nominal per capita GDP Increase?
%L

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