Suppose a country's real GDP is $14 trillion and the population is 200 million.Instructions: Enter your answers as a whole number.a. What is this country's real GDP per capita?b. Suppose that during the next 10 years, real GDP increases by 50 percent and the population triples. At the end of this 10-yearperiod, what will be its real GDP per capita?2$

Answered: Suppose a country's real GDP is $14…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose a country's real GDP is $14 trillion and the population is 200 million.
Instructions: Enter your answers as a whole number.
a. What is this country's real GDP per capita?
b. Suppose that during the next 10 years, real GDP increases by 50 percent and the population triples. At the end of this 10-year
period, what will be its real GDP per capita?
2$

Expert Solution

Real GDP per capita.

Country's real gross domestic product (GDP) is a metric that breaks down a country's economic output per person and is calculated by dividing the real GDP of a country by its population.

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