Question
Last year real GDP in the imaginary nation of Populia was 907.5 billion and the population was 3.3 million. The year before real GDP was 750 billion and the population was 3 million. What was the growth rate of real GDP per person during the year?
a. 10 percent b. 14 percent c. 17 percent d. 21 percent
a. 10 percent b. 14 percent c. 17 percent d. 21 percent
Answers
oobleck
(907.5)/(3.3) / (750/3) = 1.1
so, 10% growth
so, 10% growth