GDP per capita in the United States was approximately $49,000 iN 2 009. What will it be in the year 2015 if GDP per capita grows each year by ( a ) 0 percent? ( b ) 2 percent?

Essentials of Economics 8th Edition by Bradley Schiller

Edition 8ISBN: 978-0073511399

Essentials of Economics 8th Edition by Bradley Schiller

Edition 8ISBN: 978-0073511399

Exercise 2

GDP per capita in the United States was approximately $49,000 iN₂ 009. What will it be in the year 2015 if GDP per capita grows each year by
( a ) 0 percent?
( b ) 2 percent?

Explanation

Verified

(a) If GDP per capita grows by zero perc...