If real GDP increases by 6 percent and at the same time the population increases by 2 percent, then real GDP per person grows by real GDP per person grows by

Question

Quizplus · Accepted Answer

Real GDP per person is calculated by dividing real GDP by the population. If real GDP increases by 6% and the population increases by 2%, the growth rate of real GDP per person is approximately 6% - 2% = 4%.

If Real GDP Increases by 6 Percent and at the Same