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Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895 Exercise 10
Suppose an economy's real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?
Explanation
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Assuming an economy's real GDP = $ 30,00...
Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
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