A nation's real GDP was $250 billion last year and $265 billion this year. Its population was 122 million last year and 125 million this year. What is the growth rate of real GDP per capita in this year?

Question

Quizplus · Accepted Answer

The real GDP per capita last year = $250 billion / 122 million = $2,049.18. The real GDP per capita this year = $265 billion / 125 million = $2,120. Real GDP per capita growth = (($2,120 - $2,049.18) / $2,049.18) * 100 = 3.4%.

A Nation's Real GDP Was $250 Billion Last Year and $265