Year 2010 2011 2012 2013 2014 GDP deflator 1160.8 1180.6 1194.8 1204.2 1208.3 Population 24.0 24.3...

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Year 2010 2011 2012 2013 2014 GDP deflator 1160.8 1180.6 1194.8 1204.2 1208.3 Population 24.0 24.3 24.5 24.8 25.1 Real GDP per capita 345.2 355.8 365.5 376.1 386.2 For each of these variables, do the following. (a) Compute the year-by-year. net growth rates, reported as percentages (to at least 3 decimal places accuracy); ii. gross growth rates (reported to at least 5 decimal places accuracy). (b) Retaining your growth rates from (a) to the full internal accuracy of your calculator, for each variable compute its average growth rate i. as an arithmetic mean; ii. as a geometric mean. Report your answers to at least the same degree of accuracy as in part (a). Year 2010 2011 2012 2013 2014 GDP deflator 1160.8 1180.6 1194.8 1204.2 1208.3 Population 24.0 24.3 24.5 24.8 25.1 Real GDP per capita 345.2 355.8 365.5 376.1 386.2 For each of these variables, do the following. (a) Compute the year-by-year. net growth rates, reported as percentages (to at least 3 decimal places accuracy); ii. gross growth rates (reported to at least 5 decimal places accuracy). (b) Retaining your growth rates from (a) to the full internal accuracy of your calculator, for each variable compute its average growth rate i. as an arithmetic mean; ii. as a geometric mean. Report your answers to at least the same degree of accuracy as in part (a).

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To compute the net growth rates and gross growth rates for each variable as well as the average growth rates as an arithmetic mean and geometric mean we can use the following steps a Compute the yearb... View the full answer