Suppose an economys real GDP is $30,000 in year 1 and $31,200 in year 2. What is

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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 GDP per capita?

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 20, 2013 06:21 AM

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Suppose an economys real GDP is $30,000 in year 1 and $31,200 in year 2. What is

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Computation of Real GDP Growth Rate The formula for calculating Growth of R...View the full answer

Economics

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