From 2009 to 2010,nominal gross domestic product (GDP)in the United States grew by 3.8 percent.Given that prices increased by 1 percent and the population grew by 1 percent,we know that per capita real GDP grew by

Question

Quizplus · Accepted Answer

To find per capita real GDP growth, subtract the inflation rate (1%) and the population growth rate (1%) from the nominal GDP growth rate (3.8%). This results in a per capita real GDP growth of 1.8%.

From 2009 to 2010,nominal Gross Domestic Product (GDP)in the United