In 2005, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2006, real GDP was $4.59 billion and population was 2.97 million.
-During 2009, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2008, real GDP was 105 billion and the population was 0.85 billion. Economia's growth rate of real GDP per person is

Question

Quizplus · Accepted Answer

To calculate the growth rate of real GDP per person, we need to first calculate the GDP per person for both years.

In 2008, GDP per person = real GDP / population = 105 billion / 0.85 billion = $123.53

In 2009, GDP per person = real GDP / population = 115 billion / 0.9 billion = $127.78

The growth rate of real GDP per person = (GDP per person in 2009 - GDP per person in 2008) / GDP per person in 2008 * 100

= (127.78 - 123.53) / 123.53 * 100

= 3.44%

Therefore, the closest option is B, 3.23%.

In 2005, Armenia Had a Real GDP of Approximately $4