During 2013, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2012, real GDP was 105 billion and the population was 0.85 billion. Economia's growth rate of real GDP per person is

Question

Quizplus · Accepted Answer

To find the growth rate of real GDP per person, first calculate the real GDP per person for each year: 2013: $115 billion / 0.9 billion = $127.78; 2012: $105 billion / 0.85 billion = $123.53. Then, calculate the growth rate: (($127.78 - $123.53) / $123.53) * 100 = 3.23%.

During 2013, the Country of Economia Had a Real GDP