Question: Question 2 a) Explain GDP per capita. (2 marks) b) Zodiac Land produces computers and mobile phones. The base year is 2009 and the quantities

Question 2 a) Explain GDP per capita. (2 marks) b) Zodiac Land produces computers and mobile phones. The base year is 2009 and the quantities produced and prices are tabulated below. In 2009 Quantity Price Computers 4 million $1750 Mobile phones 3 million $1000 In 2010 Quantity Price Computers 6 million $2150 Mobile phones 3.5 million $1100 Calculate Zodiac Land's: i) Nominal GDP in 2009 and 2010. (4 marks) ii) Real GDP in 2009 and 2010. (4 marks) iii) Real GDP growth rate between 2009 and 2010. (2 marks) iv) Nominal GDP per capita in 2009 if the population was 5 million. (2 marks) Page 2 of 4 Please show your working clearly and present your final answers up to 2 decimal places. 0) Identify and explain TH REE (3) ways a firm can achieve labour productivity growth. (6 marks)
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