Suppose you reside in the country of Camelot In 2001, the total population is 110,000, the number of workers is 77 000, and real GOP is $5 280,000 000 Now assume in 2002, the total population is 115,500, the number of workers is 80 850, and real GDP is $5,121,600 000. In 2002, real income per capita is $ . (Round your response to the nearest dollar) In 2002 real income per worker is $ (Round your response lo the nearost dollor.) The change in worker productivily from 2001 is percent. (Round your resporise to bwo decimal places )

Suppose you reside in the country of Camelot In 2001, the total population is 110,000, the number of workers is 77 000, and real GOP is $5 280,000 000 Now assume in 2002, the total population is 115,500, the number of workers is 80 850, and real GDP is $5,121,600 000. In 2002, real income per capita is $ . (Round your response to the nearest dollar) In 2002 real income per worker is $ (Round your response lo the nearost dollor.) The change in worker productivily from 2001 is percent. (Round your resporise to bwo decimal places )

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the following table to calculate nominal and real (inflation-adjusted) growth in Country A's GDP per capita. Based on your calculation, which of the following is true? [Select one answer] Year Nominal per capita GDP CPI (price index) Real per capital GDP Year 1 1000 1 1000 Year 2 1500 1.1 1363.64 There is not enough information to calculate the growth rate The nominal growth is 36.36% The nominal growth is 50% The nominal growth rate is 500%
Just the asnwer is fine! Thanks
Table 23.1: Vital Economic Statistics for An Earthly Economy Nominal RGDP Total GDP Price Population Year ($ Billion) Index (in Million) $5,000.00 119 130.00 $4,900.00 117 129.50 $4,950.00 114 129.20 $4,890.00 110 129.10 Refer to Table 23.1. Real GDP per person is about in Year 4. O $34,464.19 O $34,444.19 O $34,454.19 O $34,434.19 15
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