The following table shows hypothetical values for the real GDP and population in the United States in 2007-2016. Real GDP and Population in the United States Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Real GDP (millions of dollars) $14,389,596 14,870,960 15,267,512 15,539,056 15,493,741 15,063,708 15,445,109 15.692,455 16,056,690 16,413,037 Population (millions of people) 305 306 310 313 316 319 321 324 326 328 Instructions: Enter your answers as a whole number. a. What is the calculated value of U.S. real GDP per capita in 2011? b. What is the calculated value of U.S. real GDP per capita in 2016?

The following table shows hypothetical values for the real GDP and population in the United States in 2007-2016. Real GDP and Population in the United States Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Real GDP (millions of dollars) $14,389,596 14,870,960 15,267,512 15,539,056 15,493,741 15,063,708 15,445,109 15.692,455 16,056,690 16,413,037 Population (millions of people) 305 306 310 313 316 319 321 324 326 328 Instructions: Enter your answers as a whole number. a. What is the calculated value of U.S. real GDP per capita in 2011? b. What is the calculated value of U.S. real GDP per capita in 2016?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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