If per capita real GDP was $30,000 in the year 2000 and $31,000 in 2001, the growth rate of per capita GDP in 2001 was approximately

Question

Quizplus · Accepted Answer

To find the growth rate of per capita GDP, we can use the formula:

[(new value - old value)/old value] x 100

Plugging in the values, we get:

[(31,000 - 30,000)/30,000] x 100 = 3.33%

Therefore, the growth rate of per capita GDP in 2001 was approximately 3.3 percent.

If Per Capita Real GDP Was $30,000 in the Year