Assume that a very tiny and very poor DVC has income per capita of $300 and total

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Assume that a very tiny and very poor DVC has income per capita of $300 and total national income of $3 million. How large is its population? If its population grows by 2 percent next year while its total income grows by 3 percent, what will be its new income per capita rounded to full dollars? If population had not grown during the year, what would have been its income per capita?

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Microeconomics Principles, Problems and Policies

ISBN: 978-1259450242

20th edition

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

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