Related to Don't Let This Happen To You!] Use the data for the country of New Finlandia in the following table to calculate the following: REAL GDP PER CAPITA (2005 PRICES) YEAR 2010 $41,649 42,581 2011 2012 42,464 43,190 43,173 2013 2014 "HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of Fhose years.)
Related to Don't Let This Happen To You!] Use the data for the country of New Finlandia in the following table to calculate the following: REAL GDP PER CAPITA (2005 PRICES) YEAR 2010 $41,649 42,581 2011 2012 42,464 43,190 43,173 2013 2014 "HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of Fhose years.)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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[Related to Don't Let This Happen To You!] Use the data for the country of New Finlandia in the following table to calculate the following:
REAL GDP PER CAPITA
(2005 PRICES)
$41,649
42,581
YEAR
2010
2011
2012
42,464
43,190
2013
2014
43,173
(HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of
those years.)
a. The percentage increase in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.)
b. The average annual growth rate in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.)
Enter your answer in each of the answer boxes.
Save for Later
apter 16 video Lesson
W
a
10
arch](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2bb46ca2-37bb-4cbe-bc0c-d6b7ed49b3ce%2F8f19539f-754d-41e3-863b-8b18f548d21d%2Fe9bhscq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:This Question: 1 pt
13 of 29
This Test: 29 pts possibl
[Related to Don't Let This Happen To You!] Use the data for the country of New Finlandia in the following table to calculate the following:
REAL GDP PER CAPITA
(2005 PRICES)
$41,649
42,581
YEAR
2010
2011
2012
42,464
43,190
2013
2014
43,173
(HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of
those years.)
a. The percentage increase in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.)
b. The average annual growth rate in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.)
Enter your answer in each of the answer boxes.
Save for Later
apter 16 video Lesson
W
a
10
arch
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