In the table below, fill in the real per capita GDP and nominal per capita GDP numbers. Instructions: Enter your responses rounded to the nearest whole number Year 2000 2002 2004 2006 2006 2010 49000 40000 47000 46000 45000 44000 43000 42000 41060 €20000 Per capita GDP in dollars 30000 37000 30000 35000 34000 35000 31000 29000 20000 Real GDP (millions) $12.560,000 $12.909.000 $13,774,000 $14.614.000 $14,830,000 $14,784.000 2000 32 On the accompanying graph, illustrate (A) nominal per capita GDP and (B) real per capita GDP for each year using the data given. Instructions: 1. Before plotting any points on the graph, be sure to round the nominal per capita GDP and real per capita GDP to the nearest whole thousand for plotting. For instance, if your answer is $35,503, plot your point as $36,000. 2. Use the tools provided to plot real per capita GDP (Real) and nominal per capita GDP (Nominal). Plot 6 points total for each line. Real vs. Nominal GDP 2000 to 2010 % Nominal GDP (millions) $0.817,000 $10.400.000 $11,665,000 $13.178.000 $14,291,000 $14,527,000 2002 2004 years Year 2006 reset Population (millions) 282.4 288.6 293.7 299.8 304.9 309.4 2008 2010 Real Per Capita GDP S S S (c) In how many years did nominal per capital GDP decline? years (d) In how many years did real per capita GDP decline? S S S NENE Rea (b) By what percentage did real per capita GDP increase in the same period? Nominal Instructions: Enter your responses as a percentage rounded to the nearest whole number. (a) By what percentage did nominal per capita GDP increase from 2000-2010? (Note: The formula for calculating a percentage change is New Value - Old Value/ Old Value). % Nominal Per Capita GDP S $ $ $ S S
In the table below, fill in the real per capita GDP and nominal per capita GDP numbers. Instructions: Enter your responses rounded to the nearest whole number Year 2000 2002 2004 2006 2006 2010 49000 40000 47000 46000 45000 44000 43000 42000 41060 €20000 Per capita GDP in dollars 30000 37000 30000 35000 34000 35000 31000 29000 20000 Real GDP (millions) $12.560,000 $12.909.000 $13,774,000 $14.614.000 $14,830,000 $14,784.000 2000 32 On the accompanying graph, illustrate (A) nominal per capita GDP and (B) real per capita GDP for each year using the data given. Instructions: 1. Before plotting any points on the graph, be sure to round the nominal per capita GDP and real per capita GDP to the nearest whole thousand for plotting. For instance, if your answer is $35,503, plot your point as $36,000. 2. Use the tools provided to plot real per capita GDP (Real) and nominal per capita GDP (Nominal). Plot 6 points total for each line. Real vs. Nominal GDP 2000 to 2010 % Nominal GDP (millions) $0.817,000 $10.400.000 $11,665,000 $13.178.000 $14,291,000 $14,527,000 2002 2004 years Year 2006 reset Population (millions) 282.4 288.6 293.7 299.8 304.9 309.4 2008 2010 Real Per Capita GDP S S S (c) In how many years did nominal per capital GDP decline? years (d) In how many years did real per capita GDP decline? S S S NENE Rea (b) By what percentage did real per capita GDP increase in the same period? Nominal Instructions: Enter your responses as a percentage rounded to the nearest whole number. (a) By what percentage did nominal per capita GDP increase from 2000-2010? (Note: The formula for calculating a percentage change is New Value - Old Value/ Old Value). % Nominal Per Capita GDP S $ $ $ S S
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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