If real GDP grew 5 percent last year and the population grew 2 percent, then real GDP per person grew by_{--------------------} percent.

Name: If real GDP grew 5 percent last year and the population grew 2 percent, then real GDP per person grew by -------------------- percent.
Brand: Quizplus
Rating: 4.9 (58 reviews)

Question

Quizplus · Accepted Answer

Real GDP per person is calculated by dividing real GDP by the population. If real GDP grew by 5 percent and the population grew by 2 percent, then real GDP per person grew by (5% - 2%) = 3%.

If Real GDP Grew 5 Percent Last Year and the Population